The agreement is a step toward driving a deforestation-free supply chain for soy products
Bangkok, Thailand: Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary company of a world-leading ago-food Charoen Pokphand Foods Public Company Limited (CPF), and Louis Dreyfus Company (LDC), a leading global merchant and processor of agricultural goods, have signed a Memorandum of Understanding (MOU) to collaborate on the utilization of satellite mapping solutions and traceability data points for sustainable and deforestation-free supply chains.
As the demand for deforestation-free products is growing globally, Bangkok Produce Merchandising and LDC are committed to a common goal of deforestation-free supply chain by 2025. The two companies will work together for commercial, sustainable, and technical efforts including shared traceability data points, systems and satellite mapping verification along its supply chains. The agreement covers soy products from LDC in Brazil destined for several Asian countries, where Bangkok Produce Merchandising and CPF produce and sell feed and food.
Paisarn Kruawongvanich, Chief Executive Officer of Bangkok Produce Merchandising said consumers today are increasingly prioritizing responsibly sourced products and Bangkok Produce Merchandising is meeting that demand. We are working with leading global companies to leverage our capabilities in accelerating traceable sourcing, processing, operation and commitment toward CPF’s Net-Zero goal by 2050.
“This agreement with LDC demonstrates how we are working with partners to bring the full supply chain together to transform agriculture, driven by innovation. However, this cannot be done alone as the whole food and agriculture system needs to work together to drive quicker innovation that carries a lower impact to our environment”, Kruawongvanich concluded.
“We are pleased to join forces with CPF in establishing the Traceability Pilot Project, toward more traceable, low-carbon and sustainable supply chains,” said James Zhou, LDC’s Group Chief Commercial Officer, Head of Food & Feed Solutions and Head of Asia. “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.”
Through the memorandum, both companies reaffirm their commitment and efforts to advance decarbonization and use our integrated value chain to deliver more sustainable and low-carbon products and services. They also intend to explore opportunities for further systems integration with a focus on enabling real-time data transfer and improving the digital traceability solution to be compatible 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.
