Bunge and Nutrien Ag Solutions helping development of lower carbon products
Bunge (NYSE:BG) and Nutrien Ag Solutions, the retail division of Nutrien Ltd. (TSX and NYSE: NTR), announced a strategic alliance and commercial agreement to support U.S. farmers in the implementation of sustainable farming practices that will help increase the development of lower carbon products. The initiative is expected to expand sustainable agriculture across shared supply chains in North America, bringing more whole-acre solutions to food, feed and fuel customers and end-consumers.
“We are pleased to create this new alliance with Nutrien Ag Solutions, which will further strengthen Bunge’s connection with farmers in the U.S. and create value for participants across all our value chains,” commented Fernando Candia, Bunge’s Vice President of Carbon Solutions. “Our focus is on continuing to invest in our business to support low-carbon initiatives including the implementation of regenerative agriculture best practices to improve soil health, capture carbon and increase biodiversity to minimize emissions.”
Focus on soybean growers
The initial program will focus on soybeans grown in the regions close to Bunge’s crushing facilities in Council Bluffs, Iowa, and Decatur, Indiana, with the opportunity for future expansion to other locations and crops such as corn and wheat. The program is targeting the 2023/2024 crop season and is expected to include practices such as cover crops, reduced tillage, nutrient management and responsible pesticide use.
“The implementation of sustainable farming practices that bring additional value to growers for lower carbon products requires a strong and established ally that shares our values,” said Matt Marshall, Nutrien Ag Solutions Vice President, Sustainable Ag and Retail Strategy. “Through this new Alliance, we will increase the implementation of sustainable practices that impact soil health and nutrient use efficiency to bring new revenue opportunities to the field.”
Nutrien Ag Solutions plans to provide crop consulting services, custom applications of fertility and/or chemistry, analytical testing of soil, water & tissue, traceability, and data collection via its proprietary platform Agrible – which uses predictive agronomic forecasts and sustainability metrics.
Bunge plans to contract with these farmers and manage harvest and post-harvest commercialization
“As the global leader in oilseed processing, we are positioned to leverage alliances with innovative industry players to unlock value along the value chain – from farmers to consumers – and help make our food systems more sustainable”, commented Julio Garros, Bunge’s Co-President, Agribusiness.
