DuPont Pioneer and Ag Processing Inc. announced today that AGP will offer production contracts for Pioneer brand Plenish high oleic soybeans for 2016 in Nebraska.
The agreement expands the market footprint of Plenish high oleic soybeans and will help assure improved soybean oil availability for food and industrial product customers, DuPont Pioneer says.
"AGP is excited to bring this value-added opportunity to area soybean farmers to help improve their return per acre, and to develop the first Plenish high oleic soybean production footprint west of the Mississippi," said Mark Sandeen, AGP vice president of Processing and Marketing.
"The improved fry-life and shelf-life characteristics that Plenish high oleic soybean oil brings to food industry applications, along with the product's nutrition benefits, will help build long-term soybean demand. It's a win-win for all stakeholders in the soybean industry, from farmers to consumers."
AGP will contract with growers around its Hastings, Neb., soybean processing plant and refinery to produce Pioneer brand soybeans with the Plenish high oleic trait for the 2016 growing season.
Farmers will receive a $.50 per bushel incentive for producing and storing the beans, or a $.40 per bushel premium for a harvest delivery contract.
"Plenish high oleic soybean seed products from DuPont Pioneer have outstanding yield and agronomic performance in the field, which is why we're pleased to work with AGP in bringing this new opportunity to Nebraska growers," said Mark Deterding, DuPont Pioneer director for the Western Business Unit. "For our farmer-customers, this contract program is an important step in expanding soybean market demand and increasing the return per acre today and longer term."
The development and commercialization of Plenish high oleic soybean oil is an example of how biotechnology can provide direct benefits to the food industry and consumers.
The oil's improved fatty acid profile provides a sustainable, U.S. grown, soy-based trans-fat alternative for food companies and foodservice operators with the highest oxidative stability of any soybean oil being commercially produced.
Plenish high oleic soybean oil has 0g trans fat per serving and 20% less saturated fat than commodity soybean oil, making it a more attractive ingredient for health conscious consumers.
Source: DuPont Pioneer