Ag Processing Inc. and Monsanto Partner to Bring High Oleic Soybeans to Iowa
Ag Processing Inc. (AGP) announced that it is joining the 2016 pilot launching of Monsanto’s Vistive Gold high oleic soybeans in Iowa.
AGP is partnering with two cooperatives near its Manning, Iowa plant – Farmers Cooperative Elevator Co. and Arcadia and Aspinwall Cooperative Co. – in offering a premium of 0.80 cents per bushel for on-farm storage and a premium of 0.70 cents per bushel for harvest delivery for farmers who have produced Monsanto’s Vistive Gold high oleic soybeans under contract. The soybeans will be processed at AGP’s facility in Manning, Iowa with the resulting oil being marketed to food manufacturers.
“AGP is excited about our partnership with Monsanto, local cooperative members and soybean producers in this new opportunity to add value to soybeans and introduce new technology to the industry,” said Mark Sandeen, Vice President, Processing Marketing in an August 24 release. “We look forward to working with our partners and food customers as Vistive Gold oil is introduced to the marketplace.”
Vistive Gold oil is trans fat free and has 60% less saturated fats than traditional cooking oils. In addition, it also provides an extended life for the oil, and improved oxidative stability, reducing build-up on cooking equipment and lowering costs for restaurants, increasing efficiency and sustainability.
The Iowa Soybean Association is also optimistic about the introduction of high oleic soybeans to the state’s growers.
“The Iowa Soybean Association looks forward to working with AGP, Monsanto and Iowa soybean growers to expand the production of high oleic soybeans in Iowa,” said Iowa Soybean Association Chief Executive Officer Kirk Leeds. “High oleic soybeans are critically important as we recapture market share in the food sector that’s been lost due to concerns about trans fats.”