US opens new terminal for soybean product exports to Asia

US agricultural cooperative Ag Processing Inc (AGP) has opened its new Terminal 4 export facility at the Port of Grays Harbor in Aberdeen, Washington. The new capacity is expected to more than double annual agricultural commodity exports through the port.

The project included the construction of a new ship loader, expanded receiving and storage capacity, as well as upgrades to supporting port infrastructure. The improvements are expected to speed up vessel loading and increase the efficiency of US agricultural exports.

One of the key functions of the new terminal will be shipments of soybean products to Southeast Asia and other Asia-Pacific markets. Soybeans grown by farmers in the US Midwest can be processed into soybean meal and soybean oil and then transported by rail to Grays Harbor for further shipment by sea.

The expansion of export infrastructure comes amid growing soybean processing capacity across the US Midwest. Higher production of soybean meal and soybean oil is creating additional supplies for both the domestic market and exports, particularly to Asian countries.

AGP is owned by local and regional agricultural cooperatives representing US farmers. The company operates 11 soybean processing plants, five soybean oil refineries and three biodiesel production facilities. It also operates 41 grain storage facilities with a total licensed capacity of 95.6 mln bushels.

Tags: soybean, USA, Asia, export