Indianapolis, IN, and St. Louis, MO – March 9, 2023 — Corteva Inc. (NYSE: CTVA), and Bunge (NYSE: BG) announced today significant advancements in the development of more nutritious soybean meal for the animal feed industry, specifically suited for poultry, swine and aqua feed. The companies have a multi-year collaboration to develop and commercialize soybean varieties that can create a potential new value stream opportunity for soybean farmers while giving feed compounders a new option to reduce their use of synthetic additives, lower costs, and shrink their carbon footprint.
Through this collaboration, Corteva is leveraging its expertise in germplasm, gene editing, and traits discovery to develop soybean varieties with greater protein content, optimized amino acid profiles, and lower levels of anti-nutritional factors. Early field trial research has confirmed Corteva’s approach to boosting protein levels and significantly increasing the proportion of the key amino acids methionine and lysine in the soybean while maintaining high field and oil yields.
“The future of food production hinges on developing new tools and technology to help farmers sustainably meet their production goals,” said Dr. Tom Greene, VP, Biotechnology, Corteva Agriscience. “Our collaboration with Bunge aligns with our commitment to sustainable innovation while supporting improved animal performance and greater value opportunities for livestock and row crop farmers. Our next step is to bring the higher-protein, enhanced-amino acid profile into a commercial soybean variety that offers the best value for soybean farmers.”
Bunge will be the exclusive processor of the oilseed as well as exclusive merchandiser of the high-value meal and oil, leveraging its deep farmer relationships and existing facilities to source the oilseed and deliver incremental value to farmers, feed compounders and animal protein producers.
Globally, sales of synthetic methionine and lysine for feed applications exceed $10 billion annually, and the market is expected to grow with underlying animal protein demand.
“As a global leader in oilseed processing, we are uniquely positioned to leverage upstream and downstream partnerships with leading and innovative industry players to unlock value for our farmers and customers. We are very pleased by the early results of this collaboration with Corteva,” said Kaleb Belzer, VP of Protein Ingredients at Bunge. “Naturally over-expressing methionine and lysine will make soybean meal an even better ingredient for our feed customers, enabling them to significantly reduce or even eliminate the use of expensive synthetic additives and to cut the carbon emissions associated with those supply chains, which is multiples larger than that of soybean meal.”
The companies expect to commercialize these soybean varieties by late this decade.
About Corteva Agriscience
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world’s most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Cautionary Statement on Forward-Looking Statements
This release contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva’s expectations related to regulatory approvals, product development, product offerings and product, financial or sustainability performance are forward-looking statements. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the “Risk Factors” section of Corteva’s Annual Report on Form 10-K, as modified by subsequent reports on Form 10-Q and Current Reports on Form 8-K.
At Bunge (www.bunge.com, NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper. As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they’re grown to where they’re consumed. At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company is headquartered in St. Louis, Missouri, and we have more than 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
Bunge Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “plan,” “intend,” “estimate,” “continue” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could cause actual results to differ from these forward-looking statements: the impacts of the COVID-19 pandemic and other potential pandemic outbreaks; the effect of weather conditions and the impact of crop and animal disease on our business; the impact of global and regional economic, agricultural, financial and commodities market, political, social and health conditions; changes in governmental policies and laws affecting our business, including agricultural and trade policies, financial markets regulation and environmental, tax and biofuels regulation; the impact of seasonality; the impact of government policies and regulations; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, divestitures, joint ventures and strategic alliances; the impact of industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products that we sell and use in our business, fluctuations in energy and freight costs and competitive developments in our industries; the effectiveness of our capital allocation plans, funding needs and financing sources; the effectiveness of our risk management strategies; operational risks, including industrial accidents, natural disasters and cybersecurity incidents; changes in foreign exchange policy or rates; the impact of our dependence on third parties; our ability to attract and retain executive management and key personnel; other factors affecting our business generally; and the risks and uncertainties described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the heading “Cautionary Statement Regarding Forward Looking Statements” in our most recently filed Annual Report on Form 10-K. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
Bunge News Bureau
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