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2004 Virginia Agriculture Summit February 24-25, 2004 Charlottesville, VA Re-vitalization of East Coast Export Program Speaker: Richard L. Willey Perdue.

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Presentation on theme: "2004 Virginia Agriculture Summit February 24-25, 2004 Charlottesville, VA Re-vitalization of East Coast Export Program Speaker: Richard L. Willey Perdue."— Presentation transcript:

1 2004 Virginia Agriculture Summit February 24-25, 2004 Charlottesville, VA Re-vitalization of East Coast Export Program Speaker: Richard L. Willey Perdue Farms Incorporated - Grain & Oilseed Division President and General Manager

2 VA Ag Summit Richard L. Willey, Perdue Farms 2 Perdue Farms Incorporated Quality products since Privately held, vertically integrated producer, processor, marketer and distributor of food and agricultural products to customers in more than 40 countries. Annual sales of approximately $3 billion. The largest poultry producer in the Northeastern U.S. with food-processing facilities in 10 states that produce approximately 50 million pounds/week of poultry products. Ranks among the top 12 largest grain companies in North America handling in excess of 225 million bushels/year of corn, soybeans, wheat, barley and milo.

3 VA Ag Summit Richard L. Willey, Perdue Farms 3 In 1997, the Port of Norfolk, Richmond Cold Storage and Perdue Farms formed International Refrigerated Port Services, a state-of-the-art dockside freezer for export products. As much as 15 million pounds of fresh poultry can be frozen and stored at a time.

4 VA Ag Summit Richard L. Willey, Perdue Farms 4 Perdue Farms is the largest chicken exporter out of the Port--more than 135 mln lbs/yr. Further processed and 8-piece cut-up chicken to U.S. military, Cuba (2.7 mln lbs.) Roaster Paws to China Sized legs to Japan and Korea Leg quarters to Republic of Georgia and Moldavia Hot dogs to Puerto Rico, Haiti, Singapore, Hong Kong, China, Ghana, West Africa

5 VA Ag Summit Richard L. Willey, Perdue Farms 5 Perdue-Chesapeake, VA Soybean Crushing and Export Grain Terminal Can load grains, soy meal and soy oil Nearly 200 MT of on-site storage capacity Panamax capable Grain & Oilseed Division

6 VA Ag Summit Richard L. Willey, Perdue Farms 6 Loaded more than 74 vessels at Chesapeake since June 2000 representing more than 2.09 million metric tons of products. Averaging more than 500,000 metric tons of products each year. G&O Transportation and Logistics Grain & Oilseed Division

7 VA Ag Summit Richard L. Willey, Perdue Farms 7 Origins of the Grains and Oilseed Grain & Oilseed Division TruckRailBarge Wheat Barley Corn Soybeans Midwest rail Virginia rail, barge, truck North Carolina rail, barge, truck Maryland rail, barge, truck Delaware rail, barge, truck

8 VA Ag Summit Richard L. Willey, Perdue Farms 8 Cuba Puerto Rico Venezuela Greece Algeria The Philippines Egypt Algeria Tunisia Panama Mexico Pakistan Colombia Peru Jamaica Perdue Soybean Meal and Oil Destinations Top Meal Customers The Philippines Algeria Venezuela Cuba Top Oil Customers Mexico Egypt Peru Grain & Oilseed Division

9 VA Ag Summit Richard L. Willey, Perdue Farms 9 Perdue Grains and Oilseed Destinations Top Soybean Customers Germany Holland Greece Top Wheat Customers Egypt The Philippines Brazil Top Corn Customers Algeria Morocco Israel Top Barley Customers Saudia Arabia Spain Egypt Libya Mexico Yemen China Brazil Chile The Philippines Germany Holland Portugal Greece Egypt Morocco Algeria Israel Puerto Rico Israel Morocco Saudia Arabia Spain The Philippines Grain & Oilseed Division

10 VA Ag Summit Richard L. Willey, Perdue Farms 10 As an exporter of grain, we provide farmers another outlet for marketing their crops. As a potential importer of grain, we protect our poultry assets and the viability of the poultry producers. The Chesapeake Terminal: Is one of two crushing facilities located on deep water in the U.S. Is one of two deep water port facilities on the East Coast that can receive feed ingredients or grain. Is one of three export facilities on the East Coast and the only one on the Mid-Atlantic. Can participate in the evolving bi-hemispheric marketing of soy products and grains. Bi-hemispheric trade enables us to sell local production during peak demand for U.S. product and replace it with alternative southern hemisphere product later in the year. Farmer Producer Ag Economy Perdue Farms - Grain & Oilseed Division Strategic Outlook Poultry Integrator Grain & Oilseed Division

11 VA Ag Summit Richard L. Willey, Perdue Farms 11 Growth Initiative: Establish Perdue as an importer, exporter and processor of grains and other agriculturally based products. Signed grain throughput agreement with ADM in Jan Signed operating lease for 13 Southern States elevators in Sep Installed the stationary unloader at Chesapeake in March Expand Midwest origination. Establish trading presence in South America. Quality products since 1920.

12 VA Ag Summit Richard L. Willey, Perdue Farms 12 USDA Supply/Demand World Corn (MMT) Jan USDA Feb USDA Supply Beging Stocks Production Imports Use Feed, Domestic Total Domestic Exports Ending Stocks Stock/Use Ratio29.0%28.4%25.4%20.8%16.2%10.5%10.4% 5 weeks usage

13 VA Ag Summit Richard L. Willey, Perdue Farms 13 USDA Supply/Demand U.S. Corn (mln acres, bu/acre) Feb USDAJan USDAFeb USDA Area Planted Harvested Yield Beging Stocks1,3081,7871,7181,8991,5961,087 Production9,7599,4319,9159,5079,00810,114 Imports Total Supply11,08511,23211,63911,41610,61911,211 Feed & Residual5,4725,6655,8425,8685,5995,7755,800 Food, Seed, Ind.1,8461,9131,9572,0462,3402,4802,510 Total Domestic7,3187,5787,7997,9157,9398,2558,310 Total Exports1,9811,9371,9411,9051,5921,9752,000 Total Use9,2989,5159,7409,8209,53210,23010,310 Ending Stocks1,7871,7181,8991,5961, Stock/use Ratio19.2%18.1%19.5%16.3%11.4%9.6%8.7% less than 5 weeks usage

14 VA Ag Summit Richard L. Willey, Perdue Farms 14 USDA Supply/Demand World Soybean (MMT) Jan USDA Feb USDA Supply Beging Stocks Production Imports Use Feed, Domestic Total Domestic Exports Ending Stocks Stock/Use Ratio16.7%16.8%17.8%17.5%20.3%17.9%18.6%

15 VA Ag Summit Richard L. Willey, Perdue Farms 15 USDA Supply/Demand U.S. Soybean (mln acres, bu/acre) Feb USDAJan USDAFeb USDA Area Planted Harvested Yield Beging Stocks Production2,7412,6542,7582,8912,7492,418 Imports Total Supply2,9443,0063,0523,1412,9622,604 Crush1,5901,5791,6401,7001,6151,455 Exports ,0641, Seed Residual Total Use2,5952,7162,8042,9332,7842,479 Ending Stocks Stock/use Ratio13.4%10.7%8.8%7.1%6.4%5.0% less than 3 weeks usage

16 VA Ag Summit Richard L. Willey, Perdue Farms 16 USDA Supply/Demand World Wheat (MMT) Jan USDA Feb USDA Supply Beging Stocks Production Imports Use Feed, Domestic Total Domestic Exports Ending Stocks Stock/Use Ratio23.3%28.8%35.0%34.3%27.5%21.5%21.3%

17 VA Ag Summit Richard L. Willey, Perdue Farms 17 USDA Supply/Demand U.S. Wheat (mln acres, bu/acre) Feb USDAJan USDAFeb USDA Area Planted Harvested Yield Beging Stocks Production2,5472,2992,2321,9571,6192,337 Imports Total Supply3,3733,3393,2722,9412,4732,903 Food Seed Feed/Residual Total Domestic1,3851,3011,3341,2011,1281,219 Total Export1,0421,0891, ,1251,150 Total Use2,4272,3902,3962,1641,9822,3442,369 Ending Stocks Stock/use Ratio39.0%39.7%36.6%35.9%24.8%23.8%22.5%

18 VA Ag Summit Richard L. Willey, Perdue Farms Virginia Agriculture Summit February 24-25, 2004 Charlottesville, VA


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