February 13, 2008

USGC sees strong global demand for US grains in 2008

Worldwide demand for US grains is estimated to climb in new heights, not seen since 1980, Ken Hobbie president and CEO of US Grains Council (USGC) said.

The exponential growth of demand is mostly anticipated from Korea. Industry leaders estimate a 90-percent growth in the Korean market, compared to a 10-percent share five years ago.

Most US grain shipments will also go to Central America, South America and North Africa.

Furthermore, Hobbie pointed that the market for distiller's dried grains with solubles (DGGS), has been very promising.

The biggest risks for grain exports, however, are the global economic slowdown and high freight costs, Hobbie said.