ADM, Cargill debut soybean j.v. in Egypt

Archer Daniels Midland Co. and Cargill announced on July 2 that they have successfully completed their transaction and formally launched SoyVen, a new joint venture to provide soybean meal and oil for customers in Egypt.

SoyVen owns and operates the National Vegetable Oil Co. soy crush facility in Borg Al-Arab, along with related commercial and functional activities, including a separate Switzerland-based entity supplying soybeans to the Egypt crush plant. The plant’s daily crush capacity has been doubled to 6,000 tonnes to meet increasing Egyptian demand for higher-protein soybean meal and for oil, reducing the need for imports.