Bunge and BKP expand collaboration on deforestation-free soybean supply

Bunge and Bangkok Produce Merchandising (BKP), a subsidiary of Charoen Pokphand Group, signed a memorandum of understanding for a strategic partnership aimed at bringing transparency to the agricultural supply chain. The parties agreed to implement a blockchain platform for the traceability of soybeans and soybean meal purchased from Bunge in Brazil and used by BKP and Charoen Pokphand Foods (CPF) in food and feed production.

The collaboration also includes developing solutions for integrating digital systems, enhancing supply chain transparency and traceability, and joint initiatives to reduce carbon footprints. These measures are in line with CP Group’s strategic goal to achieve carbon neutrality by 2050 and build on Bunge’s expertise in regenerative agriculture projects.

Since 2023, the companies have been conducting joint technical and commercial studies to create sustainable and digitally integrated supply chains. In 2024, a pilot project was successfully implemented to track a batch of about 375 thousand tons of soybean meal. The new memorandum envisages large-scale implementation of the solution.

According to Julio Garros, co-chairman of Bunge’s operations, the implementation of the blockchain platform creates a direct and verifiable link between food production and end consumers, ensuring transparency at all stages of the chain and building trust.

BKP CEO Titi Lujintanon emphasized that the partnership with Bunge will strengthen CP Group’s competitiveness in the global market through access to modern logistics solutions, digital platforms and sustainable supply models.

The expansion of cooperation in 2025 will also cover upstream areas: procurement of key agricultural ingredients, joint optimization of supply processes and improvement of transport logistics for CP feed production enterprises.

The blockchain platform was developed by Bunge in collaboration with Justoken, a Bunge Ventures portfolio company specializing in distributed ledger infrastructure.

Tags: Bunge, soybean, Thailand, soybean meal