As global output of soybeans rises, so farmers need to seek innovative applications for their product to prevent prices going into freefall. Edible colouring crayons may be part of the solution.
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Soybean output is set to surge in Latin America over the next few years, and the market is in danger of weakening. Farmers in major producing countries are thinking laterally to make sure there is still a thriving market for their products, and many of these new applications are in the non-food sector.
John Cherry of the US Department of Agriculture (USDA) was quoted by Reuters as telling an edible oils conference in Istanbul: “There is huge soy production and the result is driving the market down. There is quite an effort in the US to push soybeans into the non-food market.”
Soyoil is already used as a key ingredient in biodiesel fuel, which enjoys a fast-growing market in the US. Other applications include paint and adhesives, and now even colouring crayons for children. Eventually, it is hoped that as much as 15-20% of the total US crop may be used for non-food purposes, up from 4% today.
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