Bunge, Charoen Pokphand company form soy JV

Agribusiness and food company Bunge and Charoen Pokphand company Chia Tai, have formed a joint venture soybean-processing plant in Tianjin, China. With its majority share, Bunge will manage operations at the plant—its third in China.

"We are pleased to partner with Chia Tai to form this joint venture," states Christopher White, CEO, Bunge Asia. "We expect that the plant, given its strategic location and potential synergies with our existing plants in Rizhao and Nanjing, will enable Bunge to better serve China's expanding meal and oil markets."

China's soybean-meal and soybean-oil consumption have risen at compound annual rates of over 11 percent and 13 percent, respectively, since 1999, according to USDA statistics.