CGB, an affiliate of ITOCHU, has built a new soybean oil extraction and refinement plant in North Dakota in the United States, which began operating in the second half of 2024. With the addition of this new plant, CGB’s total production capacity, including its previously existing facility in Indiana, now matches the total soybean oil production of Japan.
CGB defines the soybean extraction business as its third revenue pillar after its long-running mainstay business of collecting and storing grain and its river-based logistics business. In addition, it will support the stable supply of food resources in Japan and the rest of Asia.
In recent years, soybean oil is in demand not only for food applications but as a raw material for sustainable aviation fuel (SAF), considered the next-generation aircraft fuel, and other biofuels. In light of this, CGB will increase its supply of soybean oil and help ubiquitize environmentally-friendly sources of clean energy that are expected to see increased demand in the future.