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 Soy Innovation India propels industry forward with strategic insights (12.14.2011)

 

NEW DELHI, INDIA, December 14, 2011 – The message from industry experts speaking at the debut of the Soy Innovation conference held here earlier this month at the Hyatt Regency was three-fold: increase soybean yields in India, find ways to bring together the fragmented infrastructure of the Indian soy value chain, and increase public and private participation in Indian soy promotion.

 

The conference, which included a corporate social responsibility program focused on soy and human nutrition that was presented by the National Soybean Research Laboratory from the University of Illinois, provided strategic insights from nearly a dozen international leaders in soy production and processing, soyfoods, biofuels and animal feed.

 

“It was an honor to help facilitate the exchange of knowledge between industry players and Indian and international experts on soy,” said Sarah Day Levesque, content manager with Soyatech LLC, the host of Soy Innovation India. “The conference addressed the challenges of and provided solutions to efficiently utilizing soybeans, leaving attendees with forward-thinking insight and direction as to how to capitalize on this growing sector in this emerging economy.” 

 

The associate editor of The Hindu Business Line, G. Chandrahekhar, spoke of how the industry could keep pace with the edible oil demand.  “We need to put focus on production, on maximizing soybean yields in India because we currently lag behind the United States, Brazil, Argentina and China,” he said.  “We need to carefully examine the challenges that exist throughout the entire value chain and simplify the path from farm to table.”

 

At the conference, Suresh Itapu, Ph.D. from NutriTech Consulting Services Pvt. Ltd. spoke of the need for public-private partnerships to combine resources and research new opportunities for the use of soy in food.  Itapu said that providing support to small and medium manufacturers through extension programs and developing standards and specialty varieties of soy foods was of particular importance, and stressed the huge potential in utilizing soy foods in feeding programs in India.  

 

Estimates from the American Soybean Association, as presented by Dr. Ratan Sharma, technical director in their International Marketing division, indicate that there are now about 540 soy food manufacturers in India, up from only 50 in the year 2000, and that the industry employs some 1.2 million people.  

 

“Soy is the cheapest and best available source of protein to meet the food and nutritional security needs of this country,” said Dr. Sharma.  “It requires the collective efforts from the crushers and industry to produce and process high-end products to insure the higher rate of acceptability as an ingredient and finished product.”

 

Emphasis was put on exploring ways to better promote the use of soy for human and animal needs, and on making the consumer more aware of the benefits of soy foods and products through promotion and public awareness campaigns. Investments in infrastructure and production technology necessary to increase production were explored as well.

 

Other presentations focused on the processing and applications of soy protein ingredients and on the use of soy in animal feed.  In his remarks, Dr. Ajay Bhoya, head of technical services for South Asia Novus Animal Nutrition (I) Pvt. Ltd., highlighted the drastic increases expected in the utilization of soy in Indian animal feeds in the next five years, which included a nearly 28% increase for dairy feed, a 47% increase for poultry feed, and a 100% increase for aqua feed.  He also noted, “one simply cannot manufacture quality poultry feed without soy.” 

ABOUT SOYATECH

Founded in 1985, Soyatech, LLC, a subsidiary of HighQuest Partners, is an internationally respected information platform providing integrated marketing, media, and events to foster sustainable growth in the soybean, oilseed, agribusiness, food, and biofuels industries. The company is dedicated to providing information that helps develop, support and promote better utilization of our planet’s agricultural resources. Drawing on its deep industry knowledge, Soyatech produces the annual Soya & Oilseed Bluebook. 

Soyatech partnered with PR and marketing consultant Assocom-India for Soy Innovation India. 

 

 

 

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