ADM builds soy plant in China
May 01, 2003
by Emily Buckley
DECATUR, ILLINOIS, U.S. — Archer Daniels Midland Company is constructing a soy processing facility in Shanhaiguan, China, in partnership with Wilmar Holdings.
The facility will produce ADM’s exclusive trademark Arcon line of highly functional soy protein concentrates, specialty soy flour for soy sauce fermentation and whole edible soybeans. Construction is expected to be completed by mid-2004.
Headquartered in Singapore, Wilmar Holdings is a leading processor, merchandiser and distributor of edible oils, oilseeds and related products in Asia and also sources and markets these products globally.
"The construction of this facility strategically enhances our position in fulfilling the region’s need for both animal and vegetable proteins," said Brian Peterson, ADM’s senior vice president of Corporate Affairs.
In a separate report, Bloomberg said China’s State Grain Bureau predicted soybean crushing capacity could rise 27% this year because increasing demand for soy products was prompting processors to build new plants. That increase in capacity is likely to lift Chinese demand for soybeans from the U.S., Brazil and Argentina, the Bloomberg report said.
China imported 10.385 million tonnes of soybeans from all sources in 2001-02, according to the U.S. Department of Agriculture. USDA projects China’s 2002-03 total marketing year imports at 16 million tonnes.