WASHINGTON (dpa-AFX) - ForFarmers, a European livestock feed company, Monday announced that it has signed an agreement with Bunge Global SA (BG), an agrifood business, to establish a low-carbon soybean meal flow starting with the Netherlands.
The financial details of the agreement have not been disclosed.
As per the supply agreement, Bunge needs to supply around 100,000 metric tons soybean meal to ForFarmers from various origins. Soybeans from Brazil will be sourced from farms participating in regenerative agriculture programs that meet Bunge's standards for deforestation-free sourcing.
In return, ForFarmers will receive supply chain traceability and verified carbon footprint calculations through blockchain technology.
In pre-market activity, BG shares were trading at $94.92, up 0.36% on the New York Stock Exchange.
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