Louis Dreyfus Company (LDC) has announced the creation of a new business unit dedicated to global pulses commercialisation.
The new business unit has been established as part of LDC’s strategic growth plans to reinforce core merchandising activities and diversify into new business lines.
Michael Gelchie, LDC’s CEO, said that the decision fully aligns with LDC’s strategy to meet evolving nutritional and sustainability expectations from customers, reflected in global production and demand growth.
“Pulses have gained prominence as a primary source of plant-based proteins and are also an ally for sustainable agriculture, as crops with properties that improve soil health and reduce agricultural greenhouse gas emissions,” he commented.
“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.”
Over 100 different types of pulse, including beans, chickpeas and lentils, are increasingly being consumed globally, particularly within major importing markets in the Indian subcontinent, China and the Middle East.
To meet this demand, global production is expected to reach 98 million MT by 2032 and traded volumes to exceed 23 million, particularly from key export markets such as Australia, Canada and East Africa.
Rubens Marques, LDC’s head of South and Southeast Asia, commented: “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. In particular, our origination capabilities in key producing regions of Australia and Canada, as well as our trading presence in India, Pakistan and Bangladesh, which positions us well to serve these major consumption hubs.”
The new global unit will be led by Saurabh Bhartia, who joins the group as head of trading for pulses.
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