Industry News

In 1983, the U.S. National Soybean Processors Association (NSPA) expressed concerns about international subsidies negatively impacting U.S. soybean oil and meal exports, leading to the U.S. becoming a residual supplier. The NSPA called for U.S. government action to support domestic soy processors through various trade policies and financial measures. Despite the U.S.'s status as the largest soybean producer with efficient processing, market share had been lost since the mid-1970s due to foreign subsidies and other factors. The NSPA suggested that increasing soy processing could significantly benefit the U.S. economy and job market. Concurrently, the jojoba industry was experiencing growth, with expectations of price stabilization and expanded use in various markets. Jojoba oil was being explored for uses in cosmetics, pharmaceuticals, lubricants, and potentially as a food product. Despite the current imbalance between investment and returns, the industry was optimistic about its future, focusing on research and market development.