Commodities trader Louis Dreyfus enters plant protein market
Commodities trader and food processor Louis Dreyfus Co said on Tuesday it was entering the plant protein business, the latest among large global food groups to invest in a segment expected to keep growing in coming years.
Dreyfus – the “D” in the ABCD group of leading international food traders along with ADM, Bunge and Cargill – said it was opening a research facility in the San Francisco area in the United States to accommodate a group of researchers and engineers that will work to develop plant-based foods.
Chief Executive Michael Gelchie said in a statement that the move is aligned with the company’s aim to diversify operations into higher value-added products, including plant protein extraction.
The company plans to launch non-GMO plant protein ingredients in the North American market by the end of 2022, and later expand its offerings to other regions.
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