New soybean processing plant for Bunge
Bunge Limited established a joint venture to build and operate a soybean processing plant in Dongguan, Guangdong Province, China, with Sinograin, the Chinese state-owned grain company. Bunge will hold a 65% interest in the plant, the company’s first in southern China and fourth in the nation. The venture is subject to government approval.
Construction of the plant, which will be located between Guangzhou and Hong
Kong, is expected to finish in late 2008. The facility will have a daily
processing capacity of 4000mt of soybeans, and will be connected directly to
discharge facilities at Dongguan port via Sinograin’s existing warehouses and
conveyor systems.
It will produce soybean meal for the large livestock
production industry in Guangdong and soybean oil for nearby urban markets.
Guangdong Province boasts one of the highest per capita incomes in China.
“Combining Bunge’s global supply chain and risk management expertise with
Sinograin’s domestic distribution network will make this plant an efficient
addition to the Chinese crushing industry,” stated Christopher White, CEO, Bunge
Asia.
Rise in China
Driven by rapid commercialization of its
meat and feed industries and strong growth in food consumption overall, China’s
soybean meal and soybean oil consumption have risen at compound annual rates of
over 11% and 15%, respectively, since 2000, according to USDA
statistics.
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