Soybean has been recognized as a crop with many values. It is seen to have the potential to address malnutrition in children as well as prevent several critical illnesses such as certain types of cancer, diabetes, and cardiovascular diseases. More importantly, it is a good source of various vitamins and minerals, making it a nutritious food for everyone. Realizing the health and nutritional benefits of soybeans, the Golden Beans & Grains Producers Cooperative (GBGPC) implemented a research project funded by the Department of Agriculture-Bureau of Agricultural Research (DA-BAR), titled "Soybean Roast Promotion and Processing Technology Utilization and Promotion in Luzon and NCR." Aside from further improving the soybean roast products, the project also aimed to generate additional income for its members through the improvement of the technology.
The project implemented by the GBGPC and the soybean roast products is the main subject of the study conducted and published by SEARCA titled "Technology and Investment Profile of Soybean Roast Products." The study further assessed the commercialization potential of the soybean roast products through a financial viability analysis. Dr. Leonilo Dela Cruz, chairman of the GBGPC, led the development of the products; he also co-authored in the SEARCA study.
The soybean products produced and developed by GBGPC are pure soybean roast and 3-in-1 soybean roast. The products are made from organic soybeans which are locally grown by the farmer-members of GBGPC. The GBGPC roasts the finest soybeans in small batches to ensure the freshness in every bottle of soybean roast and to make sure it is caffeine-free. The detailed processing of the soybean roast products is included in the SEARCA study.
In the Philippines, the demand for coffee is increasing. However, local production cannot supply the needs of the people. The GBGPC saw this as an opportunity and developed the soybean roast products to be a healthier option for coffee enthusiasts. Seeing its great market potential, promotional activities were conducted under the DA-BAR funded project. GBGPC utilized informative advertising to create consumers' awareness of the health benefits of drinking soybean roast such as reducing the risk of cancer and diabetes. The cooperative has also been actively introducing the product to the market by attending food exhibits and campaigning on radio, TV stations, and even on various online platforms. They have also partnered with schools, canteens, hospitals, hotels, restobars, restaurants, carinderias (local food stalls), public markets, caterers, gyms, and health centers as potential market outlets.
The financial viability analysis for the soybean roast products are also discussed in the SEARCA-published monograph to further strengthen its appeal to potential investors. The authors used cash flow analysis with the following tools: net present value, benefit-cost ratio, and financial internal rate of return. Results showed that the soybean roast processing venture is financially viable since it has met the parameters for each tool, given the set assumptions. This indicates that it is a feasible investment for interested investors.
SEARCA, through its Emerging for Innovation for Growth Department (EIGD), is now actively working to support and promote technology-based innovations among local enterprises in the Philippines as outlined in its 11th Five-Year Plan focused on Accelerating Transformation Through Agricultural Innovation (ATTAIN). For a more detailed discussion on the SEARCA-published monograph on technology of cashew products under the DA-BAR-funded project "Financial Viability and Profitability Analysis of Agricultural Technologies and Enterprises," it may be downloaded for free from the SEARCA website: https://www.searca.org/pubs/monographs?pid=485
