Ecuador: FAS Quito’s Intervention Ensures USD 250 Million U.S. Soybean Meal Trade

  |   Attaché Report (GAIN)

Ecuador’s Foreign Trade Committee (COMEX) resolved on November 26, 2014, to extend the current tariff and duty exemption for soybean meal imports from all origins (including the United States). The exemption extension is effective January 1, 2015. FAS Quito’s unceasing intervention with Government of Ecuador authorities on behalf of U.S. exporters, as well as coordination with the U.S. Soybean Export Council and Ecuador’s animal feed industry resolved a situation that could have jeopardized $200 million to $250 million in future U.S. soybean meal shipments. U.S.-origin soybean meal exports in CY 2014 (Jan-Sept) at $130 million are already up 7.5 percent compared to the previous year and we estimate these could reach $198 million by year’s end at the current pace.

Ecuador: FAS Quito’s Intervention Ensures USD 250 Million U.S. Soybean Meal Trade

Western Hemisphere, Ecuador
Oilseeds, Soybeans

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