Soy link up for sales growth
agreement with a leading distributor to represent its line of soy
protein products throughout the US.
Cargill Soy Protein, with distribution networks in Europe and the US, has formed an alliance with ET Horn company, one of the US's largest distributors of raw materials and chemicals for use in nutrition and food products.
ET Horn will feature Cargill Soy protein Solutions' line of products including soy flour, textured soy flour, flavoured soy isolate crisp as well as Prolisse - Cargill's range of soy products launched in the US last year.
Cargill claims its patented technology has achieved a breakthrough in taste, creating a bland-flavoured isolate that overcomes the classic formulation problem where beverages take on a soy bean taste.
Lisa Alley-Zarkades, ET Horn FoodTech Group vice president of sales said: "Our distribution agreement with Cargill Soy Protein Solutions underlines ET Horn's ability to provide cutting edge, high quality food ingredients."
"Our clients expect the finest products and technical assistance from ET Horn when developing new food technologies. Now that we're working with Cargill Soy Protein Solutions, we can continue to satisfy them."
The US market for soy foods is currently estimated at $1.75 billion in annual sales and is experiencing double-digit growth. Soya-based drinks and desserts in Europe have shown similar growth having grown by over 20 per cent in 2002 and currently valued at $1.57 billion (€1.3 billion).
The Food and Drug Administration's ruling permitting food companies to highlight the cardiovascular health benefits of soy protein in their products is likely to have contributed to this heightened interest in soy-based foods.
Mary Thompson, vice president of Cargill Incorporated's Soy Protein Solutions business said: "The soy protein market has undergone a dramatic revolution during the past couple of years, thanks to the FDA's health claim."
The FDA health claim informs consumers that a daily diet that includes 25 grams of soy protein and is low in saturated fat and cholesterol may reduce the risk of heart disease.
Cargill SPS is part of agri-giant, and privately owned, Cargill.
Prolisse soy isolates can be used in processed meat and poultry, meat alternatives, and baked goods. In bakery products, health foods and other applications, Cargill soy flours are not only alternatives to non-fat dry milk but they provide lower costs, increased functionality and extended shelf life, say the manufacturers.
The soaring price of soy witnessed over the past year is set to continue with the US department of agriculture sharpening its estimates this week in the monthly supply/use report for April. According to the USDA soybean demand in the US is now stronger than it was a month earlier, and that season average prices likely will be about $0.25 higher than formerly expected. In addition, USDA expects that stocks will be still lower than expected last month, levels some analysts think cannot be achieved, writes the American soybean association. As a result, the USDA's estimates have become increasingly controversial and will be watched with intense interest as the season progresses, concludes the ASA this week.
