Market News & Headlines >> Bunge Plans New U.S. Soy Crush Plant
International agricultural trading giant Bunge Ltd. on Monday announced plans to build its first new U.S. soybean processing plant in 15 years as part of efforts to improve the productivity of its processing operations in the eastern United States.
"As we evaluate the long-term demand for soy products, we see the need to improve our asset footprint in the Eastern U.S., a key market," said Tim Gallagher, executive vice president, Oilseed Value Chain, for Bunge North America, the North American arm of Bunge Ltd. "A state-of-the-art facility in the Eastern Corn Belt that incorporates the latest productivity, safety and sustainability features combined with an increase in overall efficiency of our existing footprint will ensure Bunge can serve growing demand in the Southeastern U.S. feed and export markets."
The firm said locations in Ohio and Indiana are under final consideration for the new facility. Once it completes its site selection process, Bunge will have to obtain necessary approvals to move forward with the project which would be expected to go on line by the end of 2019.
Bunge North America currently operates nine soybean processing plants in the U.S., including two in Indiana and two in Ohio, according to data from the National Oilseed Processors Association website.