North Asia
Robust Overall Performance
Our regional teams delivered a robust overall performance despite economic and political turbulence resulting from the Russia-Ukraine crisis, the ongoing effects of climate change, and the persistent effects of Covid, with consequent lockdown restrictions.
Downstream Diversification
We continued to diversify our revenue streams by moving further downstream, investing in food processing facilities, and we also continued to grow our presence in one of the world’s biggest consumer markets by further expanding our Mastergold cooking oil product range to offer consumers additional nutritional options.
Advancing Customer Centricity
We engaged in a cross-platform effort to strengthen relationships and partnerships with key customers by increasing knowledge exchange, efficiency and transparency through learning programs, operational cooperation, and data system integration and digitalization. This included the launch of a new system providing customers with a secure, one-stop digital hub to track commercial processes.
Jerrity Chen
Head of North Asia
“In 2022, North Asia continued to play a leading role in LDC’s strategy to diversify further downstream, closer to end consumers, showcasing several new products for the Chinese market at CIIE 2022 and continuing to forge new partnerships and progress with industrial developments. We also invested in new technologies with the potential to transform the future of food production, while accelerating digitalization to drive operational efficiency, supply chain transparency and meet customer needs.”
More Regional Highlights
Continued to support China’s sustainable agricultural development through our ongoing Future Change Maker project, where 276 new students from ten universities visited more than 22 villages, working with over 300 farmers to improve farming methods.
Apple juice sales almost doubled year on year, thanks to significant export growth from China to Asian countries such as Japan and Korea.
Green coffee bean sales increased by more than 50% year on year, with our joint venture distribution operation with Kunshan Yiguo going from strength to strength.
Strong performance in Grains & Oilseeds, bolstered by an effective hedging strategy, while packaged cooking oil sales to catering channels grew by 46% year on year.
Began the construction of a second refining line with our long-term partner in Zhangjiagang, deepening cooperation and supporting vertical integration and business growth by adding processing capacity to supply more soybean meal and refined vegetable oils to eastern China.
Broke ground on Fuling Food Industrial Park joint venture with DONLINK Group and HAID Group in Guangzhou, as part of our growth strategy in the Chinese market.
Implemented SAP across the region, bringing real time insights across operations to enhance business steering, productivity and efficiency.
Completed our first emissions allowance spot transaction in Tianjin, the first of its kind in Asia for LDC, and received the Carbon Asset Management Pioneer Award for our Tianjin plant from Tianjin Climate Exchange.
Continued to leverage low-carbon technology to reduce emissions – for example in Zhangjiagang, installing a new heat recovery system to recycle energy.
Enhanced our warehouse presence for grains origination in northeast China, cooperating with local partners in Zhangwu and Mudanjiang.
N°1
domestic grains trader in China
2
employer awards won at the 2022 Employer Excellence China Awards
3
product awards won at the 2022 Top of China National Grain Awards
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