Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary company of 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.
“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 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,” said Paisarn Kruawongvanich, CEO of Bangkok Produce Merchandising PCL (BKP).
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.
“U.S. soy farmers 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,” said Adds Timothy Loh, USSEC regional director for Southeast Asia and Oceania.
Watch an interview with Paisarn Kruawongvanich, CEO of Bangkok Produce Merchandising PCL, on the MoU's significance here.