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April 29, 2013

 

Louis Dreyfus to expand Saskatchewan rapeseed plant by 20%

 

 

Augmenting to a rapid industry expansion to produce vegetable oil, Louis Dreyfus Commodities plans to expand its Saskatchewan rapeseed crushing plant capacity by 20%.

 

Several of the company's rivals have already announced expansions at their own crush plants in Canada, the world's biggest grower and exporter of rapeseed, as farm output increases.

 

Dreyfus will start increasing capacity at the Yorkton, Saskatchewan plant this summer to eventually reach 3,000 tonnes per day, up from the current 2,500 tonnes, according to a statement posted on its website Friday (Apr 19).

 

The expanded rapeseed plant will be one of North America's largest.

 

Global demand for vegetable oil from rapeseed continues to grow, making the expansion necessary, said Brian Conn, vice-president of oilseeds for the company in Canada. Rapeseed crushing also produces meal, a less valuable animal feed product.

 

Winnipeg agricultural food firm Richardson International has recently announced expansions at both of its Canadian rapeseed plants, including its own Yorkton site, while Bunge and Archer Daniels Midland are also expanding their plants in Canada. Cargill is also building a new rapeseed crusher, near Camrose, Atlanta.

 

Louis Dreyfus also announced Friday that it had bought back Japanese commodity trading firm Mitsui's 40% interest in the Yorkton plant effective March 29, again giving Dreyfus full ownership.

 

Terms of the deal were not disclosed. Mitsui came on board as Dreyfus' minority partner in the plant in late 2007, during its construction.

 

At the time, the two companies said their combined investment in the plant would be over US$120 million.

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