Iowa Public Television

 

Pioneer Inks Low Lin Soy Deal

posted on February 1, 2008


DES MOINES, Iowa (AP)- Pioneer Hi-Bred International Inc. said Wednesday it has reached a deal with Maryland-based Perdue AgriBusiness to sell low linolenic soybeans to farmers in Maryland, Delaware and southern Pennsylvania for the upcoming growing season.

The deal marks an expansion in the marketing of low linolenic soybeans, which have been sold by Pioneer for three consecutive seasons.

The soybeans yield an oil with a linolenic acid profile of less than 3 percent, which provides a better natural stability and increased shelf life. Low linolenic oil eliminates the need for partial hydrogenation, which creates trans fats.

The oil supports the efforts of food companies to reduce or eliminate trans fats from their products.

The deal is part of an expanding platform of soy products launched by Pioneer for the food, feed and industrial marketplaces.

Perdue will pay a 60-cent per bushel premium to farmers who grow the beans.

"We're very excited about expanding low lin soybean contracting through a quality organization such as Perdue," said Russ Sanders, Pioneer marketing director. "This is great news for growers seeking greater income through premiums and the food processors that seek to market healthier foods."

Perdue officials said the deal will be good for soybean growers in the region.

"Perdue is excited about the opportunity low lin soybeans bring to both soybean growers on the eastern shore and our food company customers who are seeking to lower the trans fat content of their products," John Ade, Perdue vice president of grain sales and merchandising said in a statement.

The deal means Pioneer will provide seed for two of its low linolenic soybean varieties. Both varieties contain the Roundup Ready trait, a genetically modified seed that enables farmers to spray their fields with a weed killer without killing the soybean plant.

Perdue AgriBusiness is a wholly owned subsidiary of Salisbury, Md.-based Perdue Inc., a privately held international food and agriculture business providing products and services to customers in more than 70 countries.

Des Moines-based Pioneer Hi-Bred, a DuPont business, is a leading provider of plant genetics in nearly 70 countries.

Pioneer is a corporate sponsor of Market To Market.

Tags: agriculture crops news oil soybeans