February 10, 2023

Bunge says it has achieved 80% traceability of soybeans from its indirect supply chain in Brazil

Bunge has announced that it has reached 80% traceability and monitoring of soybeans from its indirect supply chain located in the Brazil's Cerrado region, Yahoo! Finance reported.

This large-scale initiative to track indirect purchases in the biome is part of the company's Sustainable Partnership Programme, and it highlights the company's consistent performance in the development of sustainable and responsible supply chains, particularly in areas of higher risk of deforestation in Brazil.

Bunge's Sustainable Partnership Program, launched in 2021, was created to assist grain resellers in evaluating suppliers' social-environmental performance. Bunge shares its experience, methodologies, and tools with grain resellers through the programme, enabling them to bring commodities of proven sustainable origin to market. To advance farm traceability and monitoring, the programme provides access to verification systems such as satellite and farm-scale images.

Pamela Moreira, Bunge's sustainability senior manager for South America, said the programme reaffirms Bunge's active role in engaging and positively influencing the entire supply chain in Brazil.

Moreira said the programme will continue to be an important tool in helping the company achieve its goal of deforestation-free chains by 2025.

She said since 2018, Bunge has been able to completely trace back to third-party elevators, so the next step was to broaden the company's emphasis to soybeans bought through our indirect supply chain in the Brazilian Cerrado region.

Bunge is expanding its relationship with Vega Monitoramento, an agtech business that employs the LYRA platform for remote sensing, artificial intelligence, and structured data, to conduct socio-environmental assessments of agricultural properties.

-      Yahoo! Finance