September 26, 2023

 

CP Foods subsidiary, USSEC sign MoU to advance sustainable sourcing of food, feed ingredients in Thailand

 

Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary company of the Charoen Pokphand Foods Public Company Limited (CP Foods), and the US Soybean Export Council (USSEC) have announced a memorandum of understanding (MoU) to advance sustainable sourcing practices for food and animal feed ingredients in Thailand and globally.

 

The MoU solidifies the commitment of both organisations to drive environmental responsibility and establish a sustainable and dependable supply chain for soybeans, soybean meal and soy products for BKP and CP Foods.

 

The MoU will also further BKP PCL's sustainability initiatives through knowledge and information sharing to enhance the sustainable sourcing of feed and food ingredients, while emphasising the role of US soy as a source of sustainable protein. This includes USSEC's sharing of technical expertise and best practices in sustainable soybean production, supply chain management, Zero Deforestation and Ecosystem conservation.

 

Paisarn Kruawongvanich, chief executive officer of BKP, said: "Our consumers care about quality and sustainability. Charoen Pokphand Group has made a commitment to the Science Based Targets initiative (SBTi), to reduce greenhouse gas (GHG) emissions and achieve net zero by 2050. This partnership with USSEC supports our targets as US soy has played an instrumental role in furthering sustainability across the food and agriculture supply chain, and US soy is also known as having the lowest carbon footprint compared with soy of other origins. This would help us reduce Scope 3 emissions in our supply chain. We are excited to embark on a journey that underscores our joint commitment to making a positive impact on our environment, our communities and the global food supply chain."

 

As part of the agreement, USSEC will also share its knowledge on sustainability and services including the US Soy Sustainability Assurance Protocol (SSAP), which verifies the sustainability of US soy products for food and animal feed uses.

 

Aimed at improving supply chain transparency, the MoU will bolster BKP PCL's commitment to sharing its GHG footprint across the supply chain and enhance its sustainable sourcing efforts.

 

"The MoU represents a significant milestone in strengthening the long-standing relationship in food and agricultural cooperation between the US and Thailand, and between Bangkok Produce Merchandising PCL and US Soy," said Jim Sutter, CEO of USSEC. "We remain committed to sharing our knowledge as well as US Soy's services and tools to support CP Group's 2030 Sustainability Goals, and the growth of Thailand's food, feed and livestock industry as we collaborate towards a more sustainable future."

 

Timothy Loh, USSEC regional director for Southeast Asia and Oceania, said: "US soy farmers have contributed to Southeast Asia's food and agricultural sector since the 1970s. Since the opening of a Representative Office in Thailand in 1994, we've consistently offered trade and technical expertise, facilitating knowledge transfer to bolster the local food and feed industries. The alliance with esteemed US soy customers like CP Group's Bangkok Produce Merchandising Company is truly an honor. We envision this partnership as a milestone, poised to spearhead industry transformation towards globally recognised sustainability practices."

 

US soy has the lowest carbon footprint compared with soy of other origins, other plant proteins, and vegetable oils, USSEC said.

 

While deforestation is a top issue for the global soy industry, it is not an issue for US soy.

 

Between 1997 and 2017, US forest land increased by 1.83 million acres (742,000 hectares) while cropland decreased by 8.9 million acres (3.6 million hectares).

 

Approximately 15% of US farmland is currently set aside for conservation, forest development and wildlife habitat.

 

Since 1980, US soy farmers have improved irrigation water use efficiency by 60%, increased land use efficiency by 48%, improved soil conservation by 34% and increased soy production by 130% using roughly the same amount of land.

 

- USSEC