By Zoila Palma: Belize’s soybean farmers could benefit from expanded local processing as Green Valley Oil opens its soybean oil refinery in Spanish Lookout, providing a new market for crude soybean oil produced during animal feed manufacturing.
The Ministry of Agriculture noted that soybean production has grown significantly in Belize since efforts to promote the crop intensified in the late 1990s. From having virtually no commercial soybean production in the 1990s, the country now reportedly plants between 28,000 and 32,000 acres annually, producing an estimated 50 million to 65 million pounds of soybeans.
The beans are sold to local feed processing plants, where the oil is extracted and the remaining soybean meal is used to produce animal feed.
However, the industry has faced challenges finding profitable local uses for the crude oil. Belize began exporting crude soybean oil to Jamaica in 2019, with exports later extending to Guyana and other Caribbean markets.
Green Valley Oil aims to address that challenge by refining the crude oil locally into cooking oil for Belizean consumers. The refinery can process approximately 12,000 litres daily and is expected to eventually purchase crude soybean oil from feed mills across the country as demand for its refined product increases.
Minister of Agriculture Rodwell Ferguson said that this facility represents an opportunity to add value to Belize’s soybean production, potentially improve market opportunities for farmers and reduce reliance on imported cooking oil.
The post Green Valley Oil creates market opportunities for Soybean farmers appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Belize’s soybean farmers could benefit from expanded local processing as Green Valley Oil opens its soybean oil refinery in Spanish Lookout, providing a new market for crude soybean oil produced during animal feed manufacturing. The Ministry of Agriculture noted that soybean production has grown significantly in Belize since efforts to promote the
The post Green Valley Oil creates market opportunities for Soybean farmers appeared first on Belize News and Opinion on www.breakingbelizenews.com.
