NOPA & USB Study on COVID-19 Losses for U.S. Soybean Crushers and Farmers
The COVID-19 pandemic created substantial losses of more than $4.7 billion for U.S. soybean farmers and crushers between January and June 2020. The National Oilseed Processors Association (NOPA) partnered with the United Soybean Board (USB) to commission the study, entitled COVID-19 Losses for U.S. Soybean Crushers & Farmers Report.
This 18-page study analyzes five key areas, including the macro-economic impact of COVID-19; direct impact on U.S. fuel and biofuel demand; U.S. livestock production and soybean crushing; loss of value to the U.S. soybean sector; and the sensitivity of world demand to different GDP growth rates. In addition to the $2.9 billion loss in soybean sales, there was a $1.5 billion loss of value for soybean oil (17.5% decline in value) and $220 million loss of value for soybean meal (1.4% decline in value), with the two components totaling $1.7 billion at a 7.2% decline in value.
For the Full Press Release click here.
- COVID-19 Losses for U.S. Crushers & Farmers Report
- Key Results of COVID-19 Losses
- Summary of Key Findings
COVID-19 Information and Online Resources
The National Oilseed Processors Association (NOPA) is committed to assisting our members secure the COVID-19 information and on-line resources relevant to oilseed processing operations during the coronavirus pandemic.
Pandemic Information Resources
The links listed below provide information about the pandemic and guidance to help companies ensure worker safety maintaining operations during the pandemic.
Department of Homeland Security (DHS)
Occupational Health and Safety Administration (OSHA)
Centers for Disease Control and Prevention (CDC)
- Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19)
- FAQ’s about Personal Protective Equipment (PPE)
- Cleaning and Disinfecting Your Facility
- Use of Cloth Face Coverings to Help Slow the Spread of COVID-19
- How to Protect Yourself
- Animals and Coronavirus Disease 2019 (COVID-19)
U.S. Department of Agriculture (USDA)
National Association of Manufacturers (NAM)
National Grain & Feed Association (NGFA)
Beveridge & Diamond
Hutton Andrews Kurth