DuPont Pioneer, Ag Processing Announce New 2016 Pioneer® brand Plenish® High Oleic Soybean Program
New Contracting Opportunities in Nebraska Significantly Expand Plenish® High Oleic Soybean Footprint as Demand Grows
DuPont Pioneer and Ag Processing Inc (AGP) 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 in the United States and particularly for western population centers."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. The enhanced stability means longer fry life in restaurant applications in addition to less polymerized oil buildup on equipment. For food manufacturers, it means longer shelf life for packaged food products without sacrificing flavor and provides the opportunity for a cleaner ingredient label by eliminating the need for artificial preservatives.
Plenish® high oleic soybean oil has 0g trans fat per serving and 20 percent less saturated fat than commodity soybean oil, making it a more attractive ingredient for health conscious consumers.
Plenish® high oleic soybean varieties are developed by Pioneer using its elite T-series genetics. Field testing has confirmed yields are on par with similar elite commercial soybean varieties.
Traits included in Plenish® high oleic soybean products have received regulatory approvals in nearly all key U.S. soybean export markets and approvals are pending in remaining export markets. For more information on Plenish® high oleic soybeans, visit www.plenish.com.
AGP (www.agp.com/) is a leading agribusiness with primary operations as a major U.S. soybean processor/refiner producing and marketing soybean meal, refined soybean oil and biodiesel. AGP businesses also include agricultural product trading in domestic and international markets and numerous U.S. grain elevator operations. AGP is owned by local and regional cooperatives representing farmer producers across the United States. Corporate headquarters are located in Omaha, Nebraska.
DuPont Pioneer (www.pioneer.com) is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering Success®.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials and services since 1802. The company believes that by collaborating with customers, governments, NGOs and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.
12.6.2015