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In a move aimed at enhancing supply chain transparency in the agricultural sector, Bunge has partnered with Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary of Charoen Pokphand Group (CP Group).

The collaboration will seek to implement a blockchain-based traceability system for soy and soy meal sourced from Brazil, marking a pivotal advancement for sustainability in the F&B supply chain.

The newly signed Memorandum of Understanding (MoU) follows successful pilot testing of a blockchain platform designed to trace soy products. This initiative will enable BKP and its parent company, CP Group, to source soy and soy meal with verified sustainability credentials for food and animal feed production across Thailand and Southeast Asia.

The partnership is expected to significantly enhance the transparency of grain value chains, connecting sustainably sourced products with an increasingly conscious consumer market.

Julio Garros, co-chief operating officer at Bunge, said: “With the blockchain platform, we are creating a direct and verifiable connection between our food production and end customers. This ensures that every link in the chain contributes to a more transparent and trustworthy future.”

The pilot project, which successfully traced approximately 375,000 metric tons of soy meal, has laid the groundwork for this large-scale implementation.

Beyond traceability, Bunge and BKP are committed to collaborating on regenerative agriculture projects aimed at reducing supply chain emissions. This aligns with CP Group’s ambitious goal of achieving net-zero emissions by 2050.

The partnership will explore innovative solutions for system integration, enhancing visibility across agricultural commodity supply chains and fostering low-carbon initiatives.

Thiti Lujintanon, CEO of BKP, highlighted the benefits of this partnership: “Collaborating with global agriculture leaders like Bunge enhances CP’s supply chain and ensures our competitiveness in the global market. We seek long-term growth that delivers consistent value to our customers.”

The partnership’s expansion in 2025 will also encompass comprehensive trade agreements focused on upstream operations, including the procurement of key agricultural raw materials and improvements in transportation logistics.

The blockchain technology underpinning this initiative was developed in partnership with Justoken, a Bunge Ventures portfolio company specialising in blockchain infrastructure. This collaboration is expected to further advance the capabilities of the supply chain, providing enhanced logistical support and sustainable sourcing models.