August 8, 2005

Solae builds soybean facility in China
 

US-based soy protein giant Solae is building a manufacturing facility in China with China's largest meat processing company, Henan Luohe Shineway Industry Group, to meet China's potential demand for soy protein.

The Shineway II project will also enable Henan Luohe Shineway to expand its local manufacturing base and reduce other expenses such as shipping costs.

According to the China National Grain and Oils Information Center (CNOGIC), China is expected to import 24.5 million tonnes of soy in 2004-05, 45 percent more than the 16.9 million tonnes imported in 2003-04.

China's 2004-05 edible oil demand is expected to hit about 18 million tonnes, while local soybean production will only hit 4-5 million tonnes. Demand will thus largely be met by crushing imported soybeans, CNOGIC said.

The Shineway II project is an extension of Solae's existing partnership with the Shineway group.