Soy plant goes idle

- Last updated on GMT

Related tags: Bunge north america, North america, Soybean, Bunge

A fall in demand for domestic soybean meal, the first time in more
than ten years, saw the North American operating arm of agri-giant
Bunge announcing this week that it will idle production at Bunge's
Marion, Ohio, soybean processing facility.

A fall in demand for domestic soybean meal, the first time in more than ten years, saw the North American operating arm of agri-giant Bunge announcing this week that it will idle production at Bunge's​ Marion, Ohio, soybean processing facility.

In addition to the drop in domestic demand, a smaller than anticipated US soybean crop harvested last autumn contributed to the company's decision.

John E. Klein, president and CEO of Bunge North America, announcing the measure this week, stated :"While we continue to believe thatlong-term prospects for soybean processing in the US are attractive, this is the first time since 1989 that domestic consumption of soybean meal is runningbelow the previous year.​"

He added that factors adversely affecting demand for soybean mealinclude lower demand from the pork and poultry sectors, which have recently experiencedproduction cutbacks.

On a positive note, Bunge reaffirmed that world meal demand continues to grow, with record soybean crops in South America reducing the demand for US meal exports.

Bunge North America, a food and feed ingredient company, supplies food ingredients to customers in thelivestock, poultry, food processor, foodservice and bakery industries.

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