DES MOINES, Iowa – A new, high oleic soybean should be ready to compete with premium canola oil in two years.
Pioneer Hi-Bred’s Plenish soybean is waiting for international market approvals, which are expected by 2012. The variety will compete with high oleic, low linolenic, high stability canola oil in food markets where saturated trans fats are no longer welcome.
Low linolenic soybeans are already available, but U.S. farmers have complained that premiums offered for identity preserved production don’t cover the risk of lower yields compared to commodity versions of the crop.
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John Muenzenberger of Pioneer said Plenish soybeans will not have the same yield drag.
Susan Knowalton of Pioneer, who developed the new soybean line, said the price premium for the low saturated fat canola will be about 13 times more than the current commodity, partially hydrogenated soybean oil.
Plenish will still have twice the saturated fat of canola but less than low linolenic soy.
“The important things for farmers is that we will be able offer them a crop that meets market demands, will provide them with a premium price for an (identity preserved crop) that yields just as well as the commodity crops they are used to and they are able to improve their market share of a proven crop they depend on,” Knowalton said.
Muenzenberger said international soybean oil use slipped to 69 percent of market share last year from its peak of 80 percent in 2004.
He said some of the losses may be attributed to the global recession, but much is related to consumer awareness of saturated fat and legislation against them.
Charlie Beggs, a corporate chef from Chicago, said the new soybean oil meets the needs of the food industry and will be a competitor in that market.
He said it scores better with American consumers in flavour, texture and appearance than trans fat free, partially hydrogenated or traditional, partially hydrogenated soybean oil in crackers, deep fried french fries and sautéed meat.
Muenzenberger said the new variety provides an opportunity for the industry to improve the perception of soybean oil in the marketplace.
Plenish will be adapted to most growing conditions now covered by the 32 varieties of the Pioneer’s Y-series soybeans, likely including shorter season crops.
