Strong in All Regions
In its first full year operating as a single platform, Grains & Oilseeds performed strongly in all regions, significantly improving the profitability of its operations despite ongoing US-China trade tensions and logistics challenges presented by Covid-19.
Record Volumes in China
Our total soybean crush volumes in China reached record levels, an increase of just over 70% versus 2019, due in part to the recovery of the country’s hog herds, which drove demand for soybean meal.
We continued to diversify revenue through value-added products, adding new glycerin packaging options for customers and initiating investment in lecithin and canola oil units, at our oilseeds processing plant in Claypool, Indiana, US.
Head of Grains & Oilseeds
“Thanks to collaboration with business partners and local government authorities worldwide, we were able to operate all key assets with only minor interruptions and keep customers supplied with essential food and feed products in the context of Covid-19, while protecting employees through reinforced safety and hygiene measures.”
More Grains & Oilseeds Highlights
In Brazil, we continued to invest in increased storage and transshipment capacity at the Port of Santos, and completed construction of a floating crane for export operations in the north of the country.
We advanced soy traceability for directly sourced volumes in Brazil to 70%, and achieved 100% traceability in Cerrado biome municipalities identified as high priority for action.
In China, we signed a joint venture agreement with River & Ocean Cereals & Oils Jiangsu for the construction and operation of an additional oilseeds crushing plant in Zhangjiagang, Jiangsu province.
We launched new high-end olive, rice and flaxseed cooking oils under our Mastergold brand in China, and launched sales operations for our packaged oils business through leading e-commerce channels in the country.
In Southeast Asia, palm traceability to mill level remained at 100% for direct sourcing to our refineries in Indonesia, and increased to 96% for palm oil traded by our Singapore office.
year-on-year increase in soy crush volumes in China
storage capacity at our Santos port terminal, Brazil
annual glycerin packaging capacity at Claypool, US
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