The North American arm of US agribusiness giant Bunge has said it is to temporarily halt production at its soybean processing facility in Destrehan, Louisiana, in early March.
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“Unfortunately, the smaller than anticipated US soybean crop in 2003 coupled with rapid US soybean exports have significantly decreased our margins at Destrehan,” said Carl Hausmann, president and CEO of Bunge North America.
Hausmann added that the company believed the temporary production halt was the appropriate step to take until domestic supplies and adverse conditions in the export market improve.
