The global merchant and processor of agricultural goods has operated its canola processing complex in Yorkton since 2009. It employs approximately 120 people and produces food grade canola oil and feed meal.
The facility is located in the country’s most productive agricultural zone, where canola is the dominant crop, and benefits from dual rail and good road infrastructure.
According to LDC, the enlarged complex will create further operational synergies and enhance canola seed sourcing capabilities.
'Global Energy Transition'
Construction of the additional canola crushing line is expected to begin later this year and LDC claims it will more than double the facility’s annual crush capacity to over two million metric tonnes upon completion.
"This investment supports the Group’s strategic growth plans by reinforcing core merchandising activities, in this case with additional capacity to originate and process Canadian canola seeds to provide nourishment for people and livestock," said Michael Gelchie, LDC’s chief executive officer.
In March of this year, the agricultural trading giant reported a 44% jump in 2022 net profit, joining other global crop merchants with an earnings boost from high prices and strong demand.