Agrocorp International and Megmilk Snow Brand have agreed to establish a joint venture (JV) to manufacture plant-based food ingredients.
The entry into the plant-based food business is an important new growth area for Megmilk and is part of its ‘Medium-Term Management Plan 2025’.
The JV aims to leverage the strengths of both companies and will see the construction of a factory in Malaysia to manufacture soy-free plant protein products such as pea protein, pea starch and pea fibre. Production at the factory is expected to begin in late 2025.
Agrocorp explained in a LinkedIn post that pea protein can be used in a variety of plant-based food applications, such as in plant-based beverages, meats and cheese.
The company added that peas have a high nutritional value and health benefits, they are high in protein, fibre, vitamins and minerals, and are non-allergenic and environmentally sustainable.
Agrocorp stated: “Legumes like peas are plants that contribute to nitrogen fixation, containing symbiotic bacteria called Rhizobia within nodules in their root systems, producing nitrogen compounds. Nitrogen is a major component of protein and a required nutrient for plants. Peas, or other legumes, in the crop rotation, usually lead to lower needs for mineral and organic nitrogen fertilisers, which contribute to 25% of the total direct greenhouse gas emissions by agriculture in the EU.”
© FoodBev Media Ltd 2022
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