Bunge and CP Foods announce agreement to develop traceability blockchain

Bunge and Bangkok Produce Merchandising (BKP), a subsidiary of Charoen Pokphand Foods (CPF), sign an agreement to develop a blockchain solution for soy traceability. The adjustment of understanding aims to create a sustainable and digital supply chain. The agreement covers grains originating in Brazil and destined for Asian countries. The aim is to improve transparency and security in the food supply chain.

Both companies will carry out feasibility studies. These cover technical, commercial and operational aspects. The goal is to build a sustainable and digitally integrated supply chain. The transfer of traceability data is at the heart of the agreement.

Paisarn Kruawongvanich, CEO of BKP, highlighted the importance of blockchain technology. According to him, the technology will make the food supply chain more transparent. This will ensure the quality and safety of products for customers. The agreement is in line with the goal of achieving a “net zero” supply chain by 2050.

According to information sent to the press, Bunge has a monitoring system that covers more than 16 thousand farms and around 20 million hectares in South America. In Brazil, the company monitors its entire direct supply network in areas subject to deforestation . It plans to fully cover the indirect network in 2025. More than 97% of the volume of soy acquired by Bunge is deforestation-free.

In addition to the focus on traceability, the companies will also discuss future collaborations. These may include deeper integration between systems. The objective is to enable real-time data transfer. We also seek to measure the carbon footprint of volumes sold with BKP. Another point is to improve the digital solution for compatibility with sustainability certification standards.