NEW YORK, March 15 (Reuters) – Commodities trader and food processor Luis Dreyfus Co said on Tuesday it was entering the plant protein business, the latest among large global food groups to invest in a segment expected to keep growing in coming years.
Dreyfus – the “D” in the ABCD group of leading international food traders along with ADM, Bunge and Cargill – said it was opening a research facility in the San Francisco area to accommodate a group of researchers and engineers that will work to develop plant-based foods.
Chief Executive Michael Gelchie said in a statement that the move is aligned with the company’s aim to diversify operations into higher value-added products, including plant protein extraction.
Read Also
Canadian Food Inspection Agency red tape changes a first step: agriculture
Farm groups say they’re happy to see action on Canada’s federal regulatory red tape, but there’s still a lot of streamlining left to be done
The company plans to launch non-GMO plant protein ingredients in the North American market by the end of 2022, and later expand its offerings to other regions.
