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Soy checkoff transparency - MSR&PC's campaign

Soy checkoff transparency - MSR&PC's campaign

By Scout Nelson

Minnesota's soybean industry, supported by over 25,000 farmers, operates a unique system where a portion of market sales, specifically one-half of 1 percent, is allocated as a checkoff. Many farmers may not fully comprehend where these funds are directed.

In response to this lack of transparency, the Minnesota Soybean Research & Promotion Council (MSR&PC) has launched the "Behind the Dollar" campaign. Led by Dumont farmer Tom Frisch, who serves as the chair of MSR&PC, the campaign aims to elucidate the trajectory of checkoff funds and the positive impacts they generate for the agricultural community.

Frisch stresses the significance of farmers understanding how their hard-earned dollars are utilized. By conducting research, developing new products, and promoting agricultural initiatives, the council strives to enhance farmers' profitability.

Director Glen Groth, also a farmer from Winona County, underscores the need for prudent investment in today's agricultural landscape. He highlights the importance of scrutinizing every dollar to ensure maximum profitability.

The campaign showcases various investments facilitated by the soybean checkoff, such as expanding export markets, promoting biodiesel, conducting agronomic research, organizing educational events, and fostering local partnerships.

The Behind the Dollar campaign utilizes multiple marketing channels to engage with farmers and consumers alike. By delving into the myriad investments made possible by the checkoff system, the campaign seeks to deepen understanding and appreciation for its substantial contributions to agricultural development.

The campaign aims to provide concrete evidence of the returns on checkoff investments. According to data from the United Soybean Board, for every dollar contributed by Minnesota farmers, they receive $12.34 in return value, highlighting the significant impact of these investments on farm profitability.

The Behind the Dollar campaign by MSR&PC serves as a beacon of transparency, shedding light on the trajectory of checkoff investments and their far-reaching positive effects on Minnesota's soybean industry and agriculture.

Photo Credit: istock-urpspoteko

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Categories: Minnesota, Crops, Soybeans

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