Home Indiana Agriculture News Biobased Products Provide Value to Soybean Farmers and the Economy

Biobased Products Provide Value to Soybean Farmers and the Economy

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A recent study from the U.S. Department of Agriculture’s Rural Development highlights the value of soybeans in the biobased industry. United Soybean Board Director and Kendallville, IN farmer Tom Griffiths says the report is the latest in a series that tracks biobased products and their impact.

“What’s really great about these findings is they’ve reinforced the fact that biobased products are an outstanding generator of economic activity, as well as job creation, creating, I think 4.6 million jobs in the last few years as well as $470 billion in economic value. And the real bonus here is they have a significant positive impact on the environment.”

Griffiths says the environmental impact is something we can all get behind.

“Normally, when you use a biobased product you displace petroleum, or some other non-biobased product. Soybean oil is one of those biobased products that serve as a displacer. Using these biobased products affects our environment by reducing greenhouse gas, and this is something, whoever you are, I’m sure we can all get behind.”

Griffiths says advancing biobased products and growing new markets for U.S. soybean demand is part of the core mission of the United Soybean Board.

“Well, the USDA did a lot of research with biobased industry to understand the challenges with the growth in this sector. Participating only validated what rural economies, farmers and United Soybean Board have been supporting for a long time. With over 1,000 soy-based products on the market ranging from tires to shoes, asphalt binders to concrete durability enhancers, supporting biobased projects is a major focus of the soy checkoff. This effort supports our core mission that promotes demand for sustainable U.S. soybean products, while improving farmer profitability. And if we can do all this while making the world a better place to live, that’s a good thing isn’t it?”

Keep up with the latest news from the United Soybean Board at unitedsoybean.org.

Source: NAFB News Service