April 24, 2007

Bunge teams up with Thailand's CP for soybean venture in China 

US-based agribusiness and food group Bunge has formed a venture with Thailand food conglomerate Charoen Pokphand Group to run a soybean processing plant in the Chinese city of Tianjin.

The venture will have Bunge its third plant in China as it holds a majority stake in the venture. The company said the site will serve China's fast-growing livestock industry and the consumer sector in Beijing.

Christopher White, CEO of Bunge Asia, said the plant's strategic location and potential synergies with the company's existing plants in Rizhao and Nanjing "will enable Bunge to better serve China's expanding meal and oil markets".

The Tianjin plant has a daily crushing capacity of 1,000 metric tonnes and will later increase its production size to 4,000 metric tonnes.