August 21, 2007

US soy processing industry posts US$17.11 billion sales in 2006
 

The US soybean processing industry posted US$17.110 billion in sales during 2006, with gross profit registering US$3.774 billion, according to an industry report by Research and Markets.

With 113 establishments in the industry last year, the average annual revenue of each establishment totalled US$151.404 million.

The industry-related import export value for 2006 added up to US$2.463 billion, with Mexico, Canada, Japan, the Philippines and Dominican Republic as the top trading countries.

Last year, the United States imported US$48.454 million worth of industry-related products, down 16.6 percent from 2005. Canada, China, the UK and Israel were the top suppliers of industry-related products to the US at US$25.713 million, US$6.387 million, US$2.550 million and US$2.241 million respectively.

Total industry-related export value for 2006 registered US$2.412 billion, up 10.7 percent from 2005. The top export destinations of industry-related products were Mexico, Canada, Japan, the Philippines and Dominican Republic at US$468.703 million, US$350.295 million, US$182.044 million, US$128.285 million and US$107.832 million respectively.

Taking into account both import and export values, the US soy processing industry's consumption value totalled US$14.746 billion in 2006.