World Grain - May 2007 - 12
newsreview
U.S. maize acreage forecast to be highest since 1944
WASHINGTON, D.C., U.S. - The U.S. Department of Agriculture
National Agricultural Statistics Service's Prospective Plantings report, released on March 30, indicated that U.S. maize (corn) growers
intend to plant 90.5 million acres of maize for all purposes in 2007,
up 15% from 2006 and 11% higher than 2005. If realized this would
be the highest acreage since 1944, when 95.5 million acres were
planted for all purposes.
Expected acreage is up in nearly all U.S. states as high maize prices
are encouraging farmers to plant more acres to maize. The report indicated that the increase in intended maize acres is partially offset by
lower expected acres of soybeans in the Corn Belt and Great Plains
and fewer expected acres of cotton and rice in the Delta and Southeast. Illinois farmers intend to plant a record high 12.9 million acres
of maize this spring, up 1.6 million acres from last year. North Dakota and Minnesota growers also expect to plant record-high maize
acres, up 910,000 and 600,000, respectively.
Bunge to acquire Chinese soybean processing plant
WHITE PLAINS, NEW YORK, U.S. - Bunge Limited announced
on April 20 the establishment of a joint venture to operate a soybean processing plant in Tianjin, China, with Chia Tai (Tianjin),
part of the Thailand-based Charoen Pokphand Group. Bunge will
hold a majority interest in the venture and will manage operations
at the plant, its third in China. Located near a modern port, the plant
will supply the livestock and feed industries and the large consumer
market in the greater Beijing area.
Driven by rapid commercialization of its meat and feed industries
and strong growth in food consumption overall, China's soybean
meal and soybean oil consumption have risen at compound annual
rates of over 11% and 13%, respectively, since 1999, according to
USDA statistics.
"We are pleased to partner with Chia Tai to form this joint ven-
-
-
-
ture," stated Christopher White, chief executive officer, Bunge
Asia. "We expect that the plant, given its strategic location and potential synergies with our existing plants in Rizhao and Nanjing,
will enable Bunge to better serve China's expanding meal and oil
markets."
The plant, which began operations in 1996, has daily crushing
capacity of 1,000 tonnes. Under the joint venture, capacity will be
expanded to 4,000 tonnes. Bunge will supply the plant from its soybean origination networks in North America and South America.
"This joint venture is consistent with Bunge's strategic intent to
expand its integrated business in China and to work with established
and respected partners in the country's most dynamic regions," said
White. "We look forward to a successful partnership with Chia Tai
that benefits both companies and our customers."
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12
May 2007 / World Grain / www.World-Grain.com
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World Grain - May 2007
Table of Contents for the Digital Edition of World Grain - May 2007
Contents
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