State official: North Dakota soybean processing expected to grow from “near zero” to 120M bushels per year

(Fargo, ND) — The director of the North Dakota Division of Commerce is speaking in regards to the financial affect of a brand new soybean crushing plant simply introduced for Grand Forks. 

“We’ll be taking all of that product and processing it right here in North Dakota somewhat than placing it on a prepare and sending it someplace else to be processed and so as to add worth to it. We’re going to add worth to it proper right here in North Dakota.  

Wealthy Garman says proper now there may be “close to zero” soybean processing occurring within the state, however says inside a number of years, the state shall be processing 120 million bushels per 12 months on the Epitome Power plant in Grand Forks, and at different new soybean processing crops coming to Casselton and to a website close to Jamestown. 

“It is a $400 million venture. It may result in 40 plus million bushels of soybeans to the Grand Forks space to be processed,” stated Garman. 

Garman says North Dakota farmers who’ve their soybeans processed on the plant will be capable to make an additional estimated 25 cents per bushel as a result of they will not should pay transportation prices to have them shipped to processors out of the area.  

Groundbreaking for the Grand Forks venture is deliberate for summer time 2023, and the positioning is predicted to change into operational in 2025. 

Garman appeared on “What’s on Your Thoughts” on AM 1100 The Flag.