THAILAND- Bangkok Produce Merchandising Public Company Limited (BKP) and Louis Dreyfus Company (LDC) have officially entered into a Memorandum of Understanding (MOU) to collaborate on the use of satellite mapping solutions and traceability data points for soy products.
BKP, a subsidiary of the renowned agro-food company Charoen Pokphand Foods Public Company Limited (CPF), and LDC, a global leader in agricultural goods processing and merchandising, are joining forces to create a deforestation-free supply chain for soy products.
This collaboration comes at a time when consumer demand for responsibly sourced products is reaching new heights.
The MOU outlines the commitment of both companies to achieve a deforestation-free supply chain by 2025. The collaborative efforts will encompass commercial, sustainable, and technical initiatives, including the implementation of shared traceability data points, systems, and satellite mapping verification along the supply chains.
The scope of the agreement specifically covers soy products sourced by LDC in Brazil, destined for multiple countries in Asia where BKP and CPF produce and sell feed and food.
Paisarn Kruawongvanich, Chief Executive Officer of Bangkok Produce Merchandising, emphasized the importance of meeting consumer demands for responsibly sourced products. Kruawongvanich stated, “We are working with global leading companies to leverage our capabilities in accelerating traceable sourcing, processing, operation, and commitment toward CPF’s Net-Zero goal by 2050.”
The collaboration aims to transform agriculture by bringing the entire supply chain together through innovation. James Zhou, LDC’s Group Chief Commercial Officer and Head of Asia expressed enthusiasm about joining forces with CPF in establishing the Traceability Pilot Project.
Zhou stated, “This project fully aligns with LDC’s commitment to fostering sustainable practices across our business activities, delivering impactful solutions that meet customer and consumer demands, and ultimately contributing to a more sustainable and resilient future of food and agricultural production.”
As part of the memorandum, both companies have reiterated their commitment to advancing decarbonization and using their integrated value chain to deliver more sustainable and low-carbon products and services.
They also intend to explore opportunities for further systems integration, focusing on enabling real-time data transfer and improving the digital traceability solution to comply with EU Deforestation Regulation (EUDR, Regulation (EU) 2023/1115) and sustainability certification standards such as the Round Table on Responsible Soy (RTRS), the International Sustainability & Carbon Certification (ISCC), and ProTerra standard.
Bangkok Produce Merchandising PCL, a Feed Ingredient Trading Business Unit of Charoen Pokphand Foods Public Company Limited (CP Foods), aims to be a sustainable leader with a solid foundation of sustainability throughout its supply chain.
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