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USB releases report showing economic benefits of the checkoff
An economics professor at Cornell University says a recent study from the United Soybean Board shows checkoff dollars create more opportunities for soybean farmers.
Dr. Harry Kaiser says without the checkoff program…
“Overall soybean demand would have been 9% lower than it actually was,” he says. “Clearly the activities the soybean check off does have been very significant.”
He tells Brownfield it also has macroeconomic benefits.
“It Increases employment in the United States by about 31,000 people, increases US employment income by 2.5 billion dollars, and overall increasing US GDP by almost $10 billion.”
Kaiser says farmers involved in the checkoff program see greater financial return.
“For every dollar invested in the overall soybean checkoff program, it returned $12.30 in terms of net revenue to soybean farmers in the aggregate level.”
The United Soybean Board’s 77 volunteer farmer-leaders work on behalf of all U.S. soybean farmers to achieve maximum value for their soy checkoff investments.
A link to the full study can be found here.
AUDIO: Dr. Harry Kaiser, Cornell University
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