ADM Building New Soybean Processing Plant in Paraguay

DECATUR, Ill.Archer Daniels Midland Co. (ADM) began construction in June 2010 on a new soybean plant in Paraguay, a move that will increase its South American oilseed crush capacity by more than 25 percent.

The plant, located next to an ADM fertilizer-blending plant in Villeta near Asuncion, is slated to be completed by 2012 and have a daily crush capacity of 3,300 metric tons. According to the company, the plants location near a port facility on the Paraguay River will increase local crop-origination and export capacity and enable the company to import fertilizer components more cost-effectively.

This plant will link South Americas productive farmers with the worlds growing demand for food and energy," said John Rice, executive vice president, Commercial and Production. ADM will grow oilseed crush volumes over the next five years at about double predicted market rate. We will achieve a compound annual growth rate of 7 percent to 10 percent through both organic growth and acquisitions."