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.
Read also
Missed BLACK SEA GRAIN? Get Full Access to Conference Insights!
Argentine soybeans may be banned in the EU due to GM
Ukraine forecasts 60.4 mln tons of grain production
Egypt plans to achieve 70% wheat self-sufficiency by 2030 thanks to EU support
Ukrainian farmers have sown over 60% of spring grain areas
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon