Farmer leaders of the American Soybean Association (ASA) and the United Soybean Board (USB) today announced they have entered into a Memorandum of Understanding with representatives of the Paraguayan Chamber Of Cereal & Oilseeds Exporters, and the Paraguayan Soybean, Oilseeds and Cereals Producers Association to begin and expand cooperation in areas of like interest to broadly promote the development and use of the soybean complex.

"The soybean complex is a valuable global commodity," said ASA First Vice President Bob Metz, a soybean producer from West Browns Valley, S.D. "The goal of this cooperative agreement is to advance the interests of all soybean producers, processors and end users through product and market development support."

At a meeting held in Asuncion, Paraguay, the organizations agreed to cooperate on resolution of trade barriers and restrictions when and where the interests of the organizations are amenable to joint efforts. For example, areas of common interest include issues such as unfair traceability and labeling regulations for food and commodities derived through biotechnology, or trade restrictions that may result from the application of new crop protection products used on soybeans.

"Through our checkoff, U.S. soybean farmers have proven that programs like this can increase our competitiveness and market share worldwide," said Benny Cooper, USB International Marketing Chair and a soybean farmer from Kevil, Ky. "Consider China, a country that went from being a net exporter of soybeans to a net importer after the checkoff worked to introduce soybean meal in aquaculture feeds."

Cesar Jure Yunis, President of the Paraguayan Chamber Of Cereal & Oilseeds Exporters and Claudia Ruser, President of the Paraguayan Soybean, Oilseeds and Cereals Producers Association, said their organizations are dedicated to promoting the oilseeds production, crushing and exporting industry in Paraguay, and the utilization of products for animal feed processed by its members. ASA, in cooperation with USB, continues to work in overseas markets to actively represent the interest of U.S. soybean producers and promote the use of soybeans and products that incorporate soy.