Des Moines, Iowa
October 6, 2004
Bunge Limited (NYSE: BG) and
DuPont (NYSE: DD) today announced a new soybean oil that
enables food service providers and food processors to reduce or
eliminate trans fatty acids in their products.
The oil will be marketed as
NUTRIUM(TM) Low Lin Soybean Oil. It will be the first
product sold under the NUTRIUM(TM) brand, which was created as
part of an alliance between Bunge and DuPont.
NUTRIUM(TM) Low Lin comes from
Pioneer(R) variety 93M20, developed by DuPont subsidiary
Pioneer Hi-Bred International,
Inc. The new soybean variety features oil with a low
linolenic acid profile of less than 3 percent and
offers better natural stability and increased shelf life.
When used for frying, low linolenic oil eliminates the need for
partial hydrogenation.
"NUTRIUM(TM) Low Lin will help
food companies reduce or eliminate trans fats from their
products," said Carl Hausmann, president and CEO of Bunge North
America, the North American operating arm of Bunge Limited.
"With the alliance, Bunge and DuPont can ensure a high-quality
product, reliable supply and efficient delivery from the plant
breeder to the farmer to the food company."
Bunge will manage marketing and
distribution of NUTRIUM(TM) Low Lin to food service providers
and food processors, who, in 2003, used more than 5 billion
pounds of frying oil. The industry has been looking for
alternative oils because the U.S. Food and Drug Administration
will require the inclusion of trans fats on food nutrition
labels in 2006.
Pioneer(R) variety 93M20 is the
first commercially available low linolenic soybean product
variety with yield and weed control options that are competitive
with the best soybean varieties on the market. In addition
to having the popular Roundup Ready(1) herbicide resistance
trait, the variety comes to the market with three years of
performance data.
"We've been developing soybeans
with improved oil since 1991 and that's why we can deliver this
improvement in varieties with the complete genetic package that
farmers today demand," said John Soper, DuPont soybean research
director.
Pioneer(R) variety 93M20 has
undergone significant testing in the field and Pioneer is
developing additional low linolenic varieties to meet demand.
NUTRIUM(TM) Low Lin has already
passed critical taste and performance tests in food product
applications. Additional quantities of the oil will be
available this fall for use in product development and testing.
Bunge expects to produce roughly 20 million pounds from the 2005
crop and have full-scale commercial availability, nearly 1
billion pounds, by 2009.
Contracts for growing Pioneer(R)
brand 93M20 will be available this fall to U.S. Midwest farmers
in select areas. Those interested should contact Pioneer
at 800-247-6803, extension 7014. Food companies interested
in learning more about NUTRIUM(TM) Low Lin should contact Bunge
at 800-828-0800.
Bunge Limited is an integrated,
global agribusiness and food company operating in the
farm-to-consumer food chain. Founded in 1818 and
headquartered in White Plains, NY, Bunge has 24,000 employees
and locations in 30 countries. Bunge is the world's
leading oilseed processing company, the largest producer and
supplier of fertilizers to farmers in South America and the
world's leading seller of bottled vegetable oils to consumers.
Bunge North America
, the North American operating arm of Bunge Limited (NYSE: BG),
is a vertically integrated food and feed ingredient company,
supplying raw and processed agricultural commodities and
specialized food ingredients to a wide range of customers in the
livestock, poultry, food processor, foodservice and bakery
industries. With headquarters in St. Louis, Mo., Bunge
North America and its subsidiaries operate grain elevators,
grain and oilseed processing plants, edible oil refineries and
packaging facilities in the U.S., Canada and Mexico.
Pioneer Hi-Bred International,
Inc., a subsidiary of DuPont, is the world's leading source of
customized solutions for farmers, livestock producers and grain
and oilseed processors. With headquarters in Des Moines,
Iowa, Pioneer provides access to advanced plant genetics, crop
protection solutions and quality crop systems to customers in
nearly 70 countries.
DuPont is a science company.
Founded in 1802, DuPont puts science to work by creating
sustainable solutions essential to a better, safer, healthier
life for people everywhere. Operating in more than 70
countries, DuPont offers a wide range of innovative products and
services for markets including agriculture, nutrition,
electronics, communications, safety and protection, home and
construction, transportation and apparel.
(1) Registered trademark used under license from Monsanto
(R), (TM) Trademarks of Pioneer Hi-Bred International, Inc. |