ADM has announced the expansion of its traceable soybean program after the successful delivery of 2.4 million bushels (64,000 metric tons) of verified, fully traceable U.S. soybeans to Europe. The company has loaded and shipped its first vessels, marking a significant milestone in sustainable agriculture.
The program, an outgrowth of ADM's International Sustainability & Carbon Certification (ISCC) certified bean initiative, utilizes cutting-edge technology, including FBN's Gradable digital platform, along with ADM's origination and transportation capabilities. This combination allows for the verification, tracing, and segregation of participating beans from farms to their final destination, ensuring transparency in the supply chain.
The successful pilot program, which concluded in 2023, addressed the growing need for traceability in agricultural products. The delivered soybeans met the highest standards, providing customers in Europe with 2.4 million bushels of fully traceable soybeans. This achievement positions ADM as a pioneer in sustainable and traceable sourcing.
In light of the impending EU deforestation regulations set to become effective at the end of the year, ADM is now poised to expand these capabilities to key locations across North America in the upcoming 2024 growing season. The company recognizes the importance of complying with evolving regulations and is committed to supporting farmers in navigating these changes.
Matt Hopkins, ADM's Vice President, North America River and Export, emphasized the company's dedication to supporting farmers and ensuring global markets remain open to U.S. agricultural products. Hopkins stated, "At ADM, our future and success depend on the farmers we work with and for," highlighting the company's commitment to fostering sustainable agricultural practices.
Jon Turney, ADM's Vice President, EMEA Crush, acknowledged the challenges ahead, stating, "While there are still issues to work through in advance of the EU's deforestation regulations, we are confident in our ability to continue delivering to customers in Europe." Turney emphasized the collaborative approach with stakeholders, including farmers, government, and industry, to address and resolve compliance-related issues.
Looking ahead, ADM plans to broaden the traceable soybean program to additional North American locations in the 2024 growing season. This expansion provides an opportunity for interested farmers to participate in global markets, generating greater value and preference for their crops.
ADM's traceable soybean program aligns with its comprehensive plan to achieve 100% deforestation-free supply chains by 2025, showcasing the company's commitment to climate-smart and regenerative agriculture. As the program expands, ADM aims to set new benchmarks in sustainable sourcing practices, contributing to a more transparent and responsible agricultural industry.
