Bunge and Bangkok Produce Merchandising Expand Blockchain-Based Soy Traceability Partnership

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Bunge and Bangkok Produce Merchandising Public Company Limited (BKP), a subsidiary of Charoen Pokphand Group (CP Group), have signed a Memorandum of Understanding (MoU) to expand their strategic partnership aimed at improving transparency in agricultural commodity supply chains.

The agreement follows successful testing of a blockchain platform for soy traceability. Under the new arrangement, the companies will adopt the platform at scale for soy and soy meal produced by Bunge in Brazil and supplied to BKP and Charoen Pokphand Foods (CPF) for use in food and animal feed production in Thailand and other Southeast Asian countries.

The partnership also includes plans to develop new system integration solutions to increase supply chain visibility and transparency, as well as collaboration on low-carbon initiatives aligned with CP Group’s commitment to reach net-zero emissions by 2050. These efforts will build on Bunge’s existing experience with regenerative agriculture projects.

Since 2023, the two companies have worked together on technical, operational, and commercial feasibility studies for sustainable and digitally integrated supply chains. In 2024, the partnership validated traceability in a pilot shipment of approximately 375,000 metric tons of soy meal.

The expansion in 2025 will also cover upstream operations, such as procurement of key agricultural raw materials, joint development of efficient procurement processes, and improvements in logistics and transportation linked to downstream CP animal feed plants.

The blockchain platform used in the initiative was developed by Bunge in collaboration with Justoken, a Bunge Ventures portfolio company specializing in blockchain infrastructure.