Commodities giant Louis Dreyfus Company has set up a new business unit focusing on pulses as part of its strategic growth plan to reinforce core merchandising activities and diversify into new business avenues.
Pulses are being increasingly consumed globally, in particular in major importing markets in the Indian subcontinent, China and the Middle East.
Pulses are a primary source of plant-based proteins and available in more than 100 varieties, including beans, peas, chickpeas, and lentils among others.
They also aid sustainable agriculture as crops that help improve soil health and reduce agricultural greenhouse gas emissions.
'Nutritional And Sustainability Expectations'
Michael Gelchie, chief executive officer of LDC, added, “The decision to establish this new business unit is, therefore, fully aligned with our strategy to meet evolving nutritional and sustainability expectations from customers, reflected in both global production and demand growth.”
“Pulses also present geographic and operational synergies with LDC’s existing business activities and, as such, have the potential to contribute significantly to earnings, leveraging our already strong research, trading and risk management capabilities.”
Glencore Agriculture India executive Saurabh Bhartia will join the company and lead the new global unit as head of trading for pulses.
Global production of pulses is expected to reach 98 million metric tonnes by 2032, and traded volumes are projected to exceed 23 million metric tonnes, LDC added.
Rubens Marques, LDC’s head of South and Southeast Asia, stated, “Building on LDC’s presence in key production and consumption markets, our new pulses business unit will initially focus on yellow peas, chickpeas, red lentils, faba beans and pigeon peas, capitalising on our established domestic trading presence in key origination and destination markets around the world [...].”
