Archer Daniels Midland announces Amazon biodiesel plant start date
June 8, 2007
The plant, currently under construction in the city of Rondonopolis, will churn out around 300,000 metric tons of biodiesel a year. The biodiesel will use soybeans as the primary feedstock -- Mato Grosso is the largest producer of soy in Brazil.
ADM owns four soybean crushers in Brazil and is one of the largest buyers of Brazilian soybeans for export. Brazil is the world's second largest exporter of soybeans after the United States, though it is projected to soon become the world's top exporter.
Projected soybean exports for Brazil and the United States, 2004-2015. Chart based on USDA data. Click to enlarge.
Earlier this year Archer Daniels Midland, along with other crushers, agreed to a two-year moratorium on soy produced on newly deforested lands. The moratorium was initiated by Greenpeace.
This article used information from a MarketWatch report
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