ADM (NYSE:ADM), a global leader in sustainably sourced solutions from nature, announced today that it has loaded and shipped its first vessels of verified, fully traceable soybeans from the US to Europe. With the completion of the initial phases of the program, and in anticipation of the new EU deforestation regulations becoming effective at the end of the year, ADM now intends to expand these capabilities to other key locations across North America in the 2024 growing season.
“At ADM, our future and success depend on the farmers we work with and for, which is why we’re committed to helping support their businesses and their legacies by ensuring that global markets remain open to US agricultural products,” said Matt Hopkins, ADM’s vice president, North America River and Export. “This program – along with our comprehensive plan to achieve 100% deforestation-free supply chains by 2025 – demonstrate the value of ADM’s irreplaceable global footprint and our investments in climate-smart and regenerative agriculture.”
“While there are still issues – including how full compliance will be defined, measured and enforced – to work through in advance the EU’s deforestation regulations, we are confident in our ability to continue to deliver to customers in Europe,” said Jon Turney, ADM’s vice president, EMEA Crush. “We will continue to work with stakeholders – including farmers, government and industry – across our supply chains in the US and other key regions in between now and the new regulations coming into effect on December 31.”
ADM’s traceable soybean program is an outgrowth of its International Sustainability & Carbon Certification (ISCC) certified bean program, and utilises cutting-edge technology – such as FBN’s Gradable digital platform – as well as ADM’s origination and transportation capabilities to verify, trace and segregate participating beans from farms to their final destination.
In the wake of the successful pilot, which delivered 2.4 million bushels (64,000 metric tons) of fully traceable soybeans to European customers in 2023, ADM intends to broaden the program to additional North American locations in 2024, providing the opportunity for interested farmers to continue to participate in current and new global markets that generate greater value and preference for their crops.
