Bangkok and New York – September 13, 2023: Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary company of the Charoen Pokphand Foods Public Company Limited (CP Foods) and the U.S. Soybean Export Council (USSEC) announce a Memorandum of Understanding (MoU) to advance sustainable sourcing practices for food and animal feed ingredients in Thailand and globally. The MoU solidifies the commitment of both organizations to drive environmental responsibility and establish a sustainable and dependable supply chain for soybeans, soybean meal and soy products for Bangkok Produce Merchandising PCL (BKP) and Charoen Pokphand Foods PCL (CP Foods).
The MoU will further BKP PCL's sustainability initiatives through knowledge and information sharing to enhance the sustainable sourcing of feed and food ingredients, while emphasizing the role of U.S. Soy as a source of sustainable protein. This includes USSEC’s sharing of technical expertise and best practices in sustainable soybean production, supply chain management, Zero Deforestation and Ecosystem conservation.
Mr. Paisarn Kruawongvanich, CEO of Bangkok Produce Merchandising PCL (BKP) underscores the MoU's significance: "Our consumers care about quality and sustainability. Charoen Pokphand Group (C.P. Group) has made a commitment to the Science Based Targets initiative (SBTi), to reduce Greenhouse Gas (GHG) emissions and achieve Net Zero by 2050. This partnership with USSEC supports our targets as U.S. Soy has played an instrumental role in furthering sustainability across the food and agriculture supply chain, and U.S. Soy is also known as having the lowest carbon footprint compared with soy of other origins. This would help us reduce Scope 3 emissions in our supply chain. We are excited to embark on a journey that underscores our joint commitment to making a positive impact on our environment, our communities, and the global food supply chain."
As part of the agreement, USSEC will also share its knowledge on sustainability and services including the U.S. Soy Sustainability Assurance Protocol (SSAP), which verifies the sustainability of U.S. Soy products for food and animal feed uses. Aimed at improving supply chain transparency, this MoU will bolster BKP PCL’s commitment to sharing its GHG footprint across the supply chain and enhance its sustainable sourcing efforts.
“The MoU represents a significant milestone in strengthening the long-standing relationship in food and agricultural cooperation between the U.S. and Thailand, and between Bangkok Produce Merchandising PCL (BKP) and U.S. Soy. We remain committed to sharing our knowledge as well as U.S. Soy’s services and tools to support C.P. Group’s 2030 Sustainability Goals, and the growth of Thailand’s food, feed, and livestock industry as we collaborate towards a more sustainable future,” says Jim Sutter, CEO, USSEC.
Adds Timothy Loh, USSEC Regional Director for Southeast Asia and Oceania, "U.S. Soy farmers through the soy checkoff have contributed to Southeast Asia's food and agricultural sector since the 1970s. Since the opening of a Representative Office in Thailand in 1994, we've consistently offered trade and technical expertise, facilitating knowledge transfer to bolster the local food and feed industries. The alliance with esteemed U.S. Soy customers like C.P. Group’s Bangkok Produce Merchandising Company is truly an honor. We envision this partnership as a milestone, poised to spearhead industry transformation towards globally recognized sustainability practices."
U.S. Soy has the lowest carbon footprint compared with soy of other origins, other plant proteins, and vegetable oils1. While deforestation is a top issue for the global soy industry, it is not an issue for U.S. Soy. Between 1997 and 2017, U.S. forest land increased by 1.83 million acres (742,000 hectares) while cropland decreased by 8.9 million acres (3.6 million hectares)2. Approximately 15% of U.S. farmland is currently set aside for conservation, forest development, and wildlife habitat3. Since 1980, U.S. Soy farmers have improved irrigation water use efficiency by 60%, increased land use efficiency by 48%, improved soil conservation by 34%, and increased soy production by 130% using roughly the same amount of land4.
Sustainability dept, Bangkok Produce Merchandising PCL.
+66(0)84 024 5790
About U.S. Soybean Export Council (USSEC)
Soybeans are the United States’ No. 1 food and agricultural export. The U.S. Soybean Export Council (USSEC) is focused on building preference, improving the value, and attaining market access for the use of U.S. Soy for human consumption, aquaculture, and livestock feed in 82 countries across the world. USSEC is a dynamic partnership of U.S. soybean producers, processors, commodity shippers, merchandisers, allied agribusinesses, and agricultural organizations; and connects food and agriculture industry leaders through a robust membership program. USSEC is farmer-funded by checkoff funds invested by the United Soybean Board, various state soybean councils, the food and agriculture industry, and the American Soybean Association's investment of cost-share funding provided by U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS).
This press release was funded in part by the soy checkoff.
About Bangkok Produce Merchandising PCL(BKP)
Bangkok Produce Merchandising PCL (BKP), a Feed Ingredient Trading Business Unit of Charoen Pokphand Foods Public Company Limited (CP Foods)., aims to be a sustainability leader by developing a foundation of the best practices of sustainability throughout the supply chain.
Jim Sutter, CEO, USSEC and Mr. Paisarn Kruawongvanich, CEO, BKP PCL (center) at the signing of the Memorandum of Understanding (MoU) between USSEC and the Bangkok Produce Merchandising Public Company Limited in New York City on August 21, 2023, on the sidelines of USSEC’s Soy Connext – the world’s largest soy industry conference.