World Grain - June 2022 - 13

Bunge prepares for renewable diesel demand
NEW YORK, NEW YORK, US - With
the renewable diesel market expected to
soar, Bunge is positioning itself to be at
the forefront of feedstock supply and
innovation.
" We're the largest global oilseed
crusher, " said Greg Heckman, chief
executive officer of Bunge, during a
May 18 presentation during the BMO
Capital Markets Global Farm to Market
Conference in New York. " We need to
lead like an industry leader and have
the origination and the distribution capabilities
to support that and then really
lean into our platforms around specialty
fats and oils, our growing plant proteins
business and then, of course, renewable
feedstocks. "
Heckman said he was glad the company
did the heavy lifting early on, especially
given world events the last two
years. The beginning of Bunge's turnaround
started three years ago with a
trade war, then African swine fever, the
COVID-19 pandemic and now the war
in Ukraine and inflation.
" I think it says something about the
resilience of the global footprint of
Bunge and we've put in place from an
operating model and a team to be able
to perform in all of those while continuing
to improve the asset base, " he said.
" There's no doubt the cycles will always
go up and down in these industries, but
what we're going to make sure is that
we can perform as well or better than
anyone regardless of the cycle. "
Bunge's future projects span all four
platforms, Heckman said. With demand
expected to increase for renewable diesel,
Bunge will add crush on both soy
and softseeds. It also is working on improving
origination and the distribution
of meals and oils.
" There's going to be a lot of dislocation
as the oil markets adjusts to renewable
diesel demand in the US, " Heckman
said. " And being basic in all oils is shifting
those global flows. That'll be a real
opportunity for us. "
As the largest global oilseed crusher,
Bunge has had the benefit of talking
with all the energy companies.
" The one thing that is absolutely
www.World-Grain.com / World Grain / June 2022
certain is that they see renewable feedstocks
and vegetable oil as one of the
levers that they can pull in the transition
to a lower carbon business over the next
10 to 15 years in liquid fuels, " Heckman
said. " They're making investments in
assets, and it's gaining momentum. "
When asked about the war in Ukraine
and its impact on the agriculture cycle,
Heckman said a big crop is needed in
North America this year along with
another large crop in South America
next year.
" I think we need two good cycles to
start to alleviate some of the pressure, "
he said.
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World Grain - June 2022

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