Bunge launches unprecedented program to monitor soybean crops in its indirect supply chain in Brazilian Cerrado
ST. LOUIS – (COMMERCIAL THREAD) – Bunge has launched an unprecedented initiative to share best practices with grain traders regarding the traceability and tracking of soybean crops related to its indirect supply chain in the Cerrado region, one of the areas to high risk of deforestation in Brazil. Dubbed the Bunge Sustainable Partnership, the program will help partners implement supply chain verification systems, including satellite and farm-scale imagery. Dealers can adopt independent imaging services or use Bunge’s geospatial monitoring framework at no cost. The initiative is part of Bunge’s Global No-Deforestation Policy with a public and voluntary commitment to achieve deforestation-free value chains around the world by 2025.
Bunge already has 100% traceability to the farm for its direct purchases and in the Brazilian Cerrado region alone, the company monitors more than 8,000 farms, for a total of 11.6 million hectares (28 , 6 million acres), which is 96% of soybeans. purchased directly in this region. With the commitment of grain traders as part of the Bunge Sustainable Partnership, the Company plans to achieve 100% traceability and tracking of its indirect purchases over the next four years. Bunge currently tracks and monitors around 30% of its indirect purchases.
“We recognize the important role we can play in our industry. This unprecedented initiative is a way for Bunge to share with its supply chain the best practices we use to build traceable and verifiable value chains. We value our partnership with resellers and producers to make our supply chains increasingly productive and sustainable, and we believe that solutions at scale and with long-term impacts are only possible when all partners in the value chain, from farmers to customers, are involved and engaged, ”said Rob Coviello, director of sustainability and government affairs at Bunge.
The company will share its experience, methodologies and tools with partner resellers interested in implementing or improving the social and environmental assessment of their suppliers (farmers). For monitoring, which involves checking soybean crops using satellite images, dealers can choose to contract out their own systems or use Bunge’s structure for free. The pilot program is being conducted in partnership with Agrícola Alvorada, and data from properties from which the concessionaire purchases soybeans has already been included in Bunge’s satellite monitoring cycle for this year.
“Bunge’s support and expertise in monitoring and tracking is essential to the overall improvement of our supply chain. This has accelerated our adaptation to market demands, ”says Jarbas Weis, Managing Director of Agrícola Alvorada.
Bunge is the only company in the sector that uses data from Brazil’s Rural Environmental Registry (CAR) at this scale to obtain accurate information on property sizes and their boundaries in Brazil. This allows for more accurate observation of land use changes on each of the monitored properties, which is not possible otherwise with limited GPS coordinates. This new offering would allow grain traders to use the same model to monitor their suppliers.
“Grain traders play an important role in our industry by providing market access to small and medium-sized farmers. By helping them set up traceability and monitoring systems and tools, we are doing our part to contribute to the entire sector, ”explains Roberto Marcon, Origination Director of Bunge.
As part of its global commitment against deforestation, Bunge is also taking several steps to encourage sustainable agriculture, from special funding lines to mapping areas already open and suitable for soybean expansion. The most recent example is the AgroApp Bunge, an app that functions as a hub of information and tools to support sustainable production, solve sustainability issues, and provide comprehensive support to farmers. Through this communication channel, farmers have easy access via mobile devices to CAR data on their properties, which contributes to the overall management of the environment and biodiversity of the property.
At Bunge (www.bunge.com, NYSE: BG), our goal is to connect farmers with consumers to provide essential food, feed and fuel to the world. With over two centuries of experience, an unmatched global scale and deep-rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security and help communities thrive. . As a global leader in oilseed processing and a leading producer and supplier of specialty vegetable oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our chains. of value and to bring quality products from where they are grown to where they are consumed. At the same time, we collaborate with our customers to create and reinvent the future of food, developing tailor-made and innovative solutions to meet ever-changing food needs and trends in all regions of the world. Our company is headquartered in St. Louis, Missouri, and we have over 23,000 dedicated employees working in over 350 facilities located in over 40 countries.
We regularly post important investor information on our website, www.bunge.com, in the “Investors” section. We may use this website as a means to disclose material, non-public information and to comply with our disclosure obligations under the FD Regulation. Accordingly, investors should keep an eye on the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. Information contained on or accessible from our website is not incorporated by reference into and does not form part of this document.