Bunge and Bangkok Produce Merchandising Public Company Limited, a subsidiary of Charoen Pokphand Group (CP Group), signed a Memorandum of Understanding for a strategic partnership that marks an advance in agricultural commodity supply chain transparency. The companies will adopt this solution for soy and soy meal originated by Bunge in Brazil and supplied to Bangkok Produce Merchandising (BKP) and Charoen Pokphand Foods (CPF) for food and animal feed production in Thailand and other Southeast Asian countries.
The companies also plan to develop innovative solutions for system integration to enhance visibility and transparency across agricultural commodity supply chains, as well as collaborating on low-carbon initiatives with supply chain-wide impact, in line with CP Group's ambition to achieve net-zero emissions by 2050 and leveraging Bunge's experience in leading regenerative agriculture initiatives.
Since 2023, Bunge and CP have collaborated on technical, operational, and commercial feasibility studies for sustainable and digitally integrated supply chains. Last year, the partnership validated traceability in a pilot involving a shipment of approximately 375,000 tons of soy meal.
Julio Garros, Bunge's Co-Chief Operating Officer, stated: “With the blockchain platform, we are creating a direct and verifiable connection between our food production and end customers, providing comprehensive information on our responsible supply chains and ensuring that every link in the chain contributes to a more transparent and trustworthy future. The success of the pilot has also enabled us to expand our commercial commitment with CP, developing other business avenues, such as regenerative agriculture.”
Thiti Lujintanon, Chief Executive Officer of Bangkok Produce Merchandising, said: “Partnerships with global agriculture leaders like Bunge will enhance CP’s supply chain and ensure CP stays competitive in a global market. The expansion of collaboration will include access to advanced logistics, digital platforms, and sustainable sourcing models that improve efficiency, reduce costs, and open new markets for both parties. We are looking for long-term business growth that can deliver consistent value to our customers across the globe.”
The partnership’s expansion in 2025 will also include comprehensive trade agreements on upstream operations, like procurement of key agricultural raw materials, joint development of efficient procurement processes, and transportation improvements, to downstream CP animal feed plants.
The blockchain platform was developed by Bunge in partnership with Justoken, a Bunge Ventures portfolio company specializing in blockchain infrastructure.
