ADM and Cargill to launch soybean joint venture

Archer Daniels Midland Company (ADM) and Cargill have reached agreement to launch a joint venture to provide soybean meal and oil for customers in Egypt.

The joint venture will be created to meet growing customer demand for soybean meal and oil in the region.

The joint venture would own and operate the National Vegetable Oil Company soy crush facility in Borg Al-Arab along with related commercial and functional activities, including a separate Switzerland-based merchandising operation that would supply soybeans to the crush plant. Cargill is currently expanding the plant from 3,000 metric tons to 6,000 metric tons of daily crush capacity. The plant will be able to produce higher-protein soybean meal while reducing the need for soybean meal imports into Egypt.

Reference: export of soybean meal and cake over 5 months of 2017/18 (September-January) amounted to 136.2 thousand tons, which is 18% more than over the same period of 2016/17.