great demand virgin soybean oil processing plant

   
great demand virgin soybean oil processing plant
                                               
                                               
                                               
                                               
  • great demand virgin soybean oil processing plant
  • Where is the largest soybean processing plant in South Dakota?
  • (Joshua Haiar/South Dakota Searchlight) MITCHELL ¡ª Construction of the largest soybean processing facility in South Dakota began Tuesday with a groundbreaking ceremony. The High Plains Processing plant, 2 miles south of Mitchell, is a project of South Dakota Soybean Processors, which already operates two processing plants in Volga and Miller.
  • How much does a new soybean processing plant cost?
  • The company said the new processing plant will cost about $500 million to build, will employ an estimated 85 full-time employees, and be capable of processing 35 million bushels of soybeans annually when it begins operation in 2025. Eschenbaum forecasts new demand for soybeans will raise the price ¡°10 to 20 cents per bushel.¡±
  • Why is the soybean industry expanding?
  • The soybean sector is expanding to meet upcoming growth in demand. The announced 23 new or expanded crush plants would increase crush capacity by 34%. However, as aforementioned, this is dependent on multiple factors to actually occur. Chief among them is the pace of renewable diesel growth.
  • Why is Louisiana expanding its soybean industry?
  • Whole beans tend to be easier to transport than meal, which gives an advantage to crushing locally. With announced expansion, Louisiana would go from being a net importer of its soy production to a net exporter. Several large renewable diesel plants are planned for the New Orleans area, which would need the soybean oil.
  • How will the soybean processing industry change over the next year?
  • By Scott Gerlt, American Soybean Association economist. The soybean processing industry intends to significantly grow over the next few years. This change will open up more domestic opportunities for soybean consumption. Soybeans are almost never used whole but are instead ¡°crushed¡± to produce soybean meal and soybean oil.
  • Will New Orleans use soybean oil?
  • Several large renewable diesel plants are planned for the New Orleans area, which would need the soybean oil. North Dakota would transition from utilizing less than 10% of its soybean production to about 50%, and Nebraska would transition from 42% to 80%.