CVX

By Colin Kellaher

Corteva Inc., Bunge Ltd. and Chevron Corp. on Tuesday said they will work together to introduce winter canola hybrids that produce plant-based oil with a lower carbon profile in a bid to boost the availability of feedstocks for the growing domestic renewable-fuels market.

The companies said the proprietary winter canola hybrids from seed and pesticide maker Corteva can be used in a double crop system, following soybeans or cotton.

Bunge Chevron Ag Renewables, a joint venture between agribusiness giant Bunge and oil major Chevron, plans to contract with farmers to buy the harvested winter canola crop and use the oil to produce renewable fuel, the companies said.

Corteva, Bunge and Chevron said the winter canola crop, which they plan to introduce into the southern U.S., will create a new revenue opportunity for farmers with a sustainable crop rotation, adding that they expect to conduct a pilot program in the 2022-23 growing season.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

March 14, 2023 08:52 ET (12:52 GMT)

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