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Category: Soybean

Bartlett partners POSCO International in soybean crush, grain origination

USA- Bartlett, a Savage Company, and South Korea’s POSCO International have signed a framework for a joint venture in grain origination, soybean processing, and export. According to the companies, that a joint venture would utilize Bartlett’s North American agriculture supply chain and operational capabilities, along with POSCO’s global agricultural network and market expertise, to promote growth and explore new business…

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European feed industry intensifies commitment to sustainable soy sourcing-FEFAC report

EUROPE – The recently published European Soy Monitor 2021 noted that 40% of soybean meal equivalent of total European soy consumption was sourced according to the European Compound Feed Manufacturers’ Federation (FEFAC) Soy Sourcing Guidelines. According to the provisional data, the European feed industry has intensified its commitment to sustainable soy, with 21% representing an increase in responsible soy usage…

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India’s soybean output to decline year on year amid unpredictable rains 

INDIA- Industry officials and farmers predict that India’s soybean production will drop as patchy monsoon rains in August stunted the crop in some key growing areas. India uses soybeans to manufacture soy oil, which helps the country cut its hefty edible oil imports, while the by-product soy meal is used for animal feed and exported mainly to Southeast Asia. Farmers…

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Eni  Angola to start production of vegetable oil in 2024

ANGOLA – Italian multinational oil and gas company Eni has revealed its plans to establish an “agro bio” business, an agro-industrial complex that will focus on large-scale production of vegetable oil in Angola starting next year. The announcement was made by Guido Brusco, the company’s Natural Resources Director at the Angola Oil & Gas conference held in Luanda. Brusco revealed…

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USDA report triggers corn and soybean price drop, wheat remains resilient

USA- Corn and soybean prices experienced a significant dip following the release of the latest World Agricultural Supply and Demand Estimates (WASDE) report by the US Department of Agriculture (USDA), revealing larger-than-expected supplies in the US.  On the contrary, wheat prices remained relatively stable despite a notable reduction in world inventory expectations, as highlighted by CRM Agri. The report made…

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China to import soybeans in unprecedented volume: USDA

CHINA- China is forecasted to import a record volume of soybeans in 2022-23, although an increase in domestic production could dampen totals in the 2023-24 marketing year, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. According to the report, Soybean imports are estimated at 101 million tonnes due to relatively lower prices…

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Argentina anticipates strong rebound in soybean crop, Brazilian soy and corn recover

ARGENTINA- The Buenos Aires grain exchange recently released a report on September 7, projecting an impressive harvest of approximately 50 million tonnes for the 2023-24 season in Argentina, a key player in the global soybean arena.  This anticipated yield marks a substantial increase compared to the 21 million tonnes harvested in the previous season, which was marred by a historic…

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Cargill’s deforestation concerns addressed as Sean Leighton assumes IFT presidency

USA- An activist group, Global Witness, recently released a report revealing that global commodity trading giant Cargill has been procuring soy from 50,000 acres of deforested land in Bolivia’s Chiquitano Forest.  The investigation conducted by Global Witness examined Cargill’s soy purchases from five regions in Santa Cruz, Bolivia, farmed by Mennonite colonies.  These colonies are located in the ecologically significant…

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Soybeans emerge as a promising cash crop to bolster Ghana’s economic growth

GHANA – Ghana has identified soybean as a promising cash crop with the potential to revitalize and stimulate the economy of the country, pointing to becoming a leading source of revenue like or even surpassing cocoa. This was revealed by the Soya Value Chain Association of Ghana during a consultative meeting held in Accra. Convened at the Council for Scientific…

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PIA officiates operation of the country’s largest soy processing plant, Togo Soja

TOGO – The Adetikope Industrial Platform (PIA), a vertically integrated industrial zone in Togo has announced the operationalization of the country’s largest soy processing plant, Togo Soja. Adetikope Industrial Platform is proud to officially announce the full operationality of Togo Soja, the local Soya processing plant located in the area,” PIA announced.  With a total investment of US$25M (approximately 15.2 billion FCFA), Togo…

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