Agrocorp Sustainability Report FY23

Sustainability Report
Jan 2023
AUSTRALIA | BANGLADESH| BENIN| CANADA| CHINA | DUBAI | GHANA | GUINEA BISSAU | INDIA|
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MYANMAR | SINGAPORE |THAILAND | TURKEY | UKRAINE | UNITED STATES | VIETNAM
Contents Sections
About Agrocorp About Agrocorp
This chapter gives an overview
about Agrocorp’s vision and 01 Vision and Mission
mission, details of its global offices 02 Global Presence
and plants 03 Chairman’s Message
2022 In Review FY2022 in Review
This chapter offers narrative about 04 Sustainability Policy

our key sustainability initiatives for 05 Emissions Reporting
2022 from an environmental, social 06 Sustainability Impact
and governance standpoint Environment, Social and Governance
07 New Initiatives
08 CSR and Community Outreach
Pulses and Protein Strategy

Our Plant Protein Vision
This area hones into our vision
become a leading player in the 09 Joint Research Programme
global market of plant-based 10 Our Protein Extraction Plant
proteins 11 HerbYvore
2 Sustainability Report FY2022/23

Vision
Working towards a better
NOURISHED WORLD through responsible and sustainable sourcing
of Agri-food products and building ENDURING PARTNERSHIPS
all along the supply chain
Mission
We’re committed to sourcing
AGRI-FOOD PRODUCTS with
TRACEBILITY AND VALUE
We provide innovative solutions to fulfil the needs of an ever-changing
world while striving to always be our customers’ supplier of choice
3
Global Presence
Spain Myanmar
Ukraine
• New office in Barcelona • Rice mill
• Automotive distribution
business China
Canada Turkey
• 4 pulses processing plants

• 1 protein extraction plant
United States
• AgroLink JV
• New office in New York Vietnam
Guinea Bissau
Thailand
Singapore
• Global HQ
Ghana
Dubai
Benin • Middle East & Africa HQ
Bangladesh
• New office
Legend:
Offices
India Australia
Processing Plants
Countries which Agrocorp is active in • Pulses distribution and • 3 pulses and seeds
wheat origination processing plants

Chairman’s Message
Vijay Iyengar
Chairman & Managing Director
Agrocorp International Pte Ltd
Nourishing Our World

2022
Responsibly
Our Commitment to Food Security and Sustainability Strengthening Ourself For FY23
I am happy to see that the valuable role we play in addressing food Operationally, we have continued to expand sustainably and have
security and supply chain sustainability is being recognised and recently opened offices in Bangladesh, New York, and Barcelona to
encouraged. 99% of our sales are in developing markets and more than enhance our marketing and sourcing efforts with experienced talent
60% is in food insecure markets such as Bangladesh, Pakistan and Ethiopia. joining us to steer them. We are also actively working on expansion
In these countries, we have routinely been participating in government opportunities in Canada and Australia. On the research front, we have
tenders for wheat, sugar and pulses and often, we tend to be either the initiated a collaboration with the Singapore Institute of Technology to
sole bidder or one of a handful of participants which is due to the better understand the functional properties of plant-based proteins, their
complexity and perceived risk of doing business. Even in Singapore, where extraction techniques, and improve their applications in plant-based food
our head office is, we try to play our part in food security efforts, and have products. It is gratifying to involve undergraduates and graduate students
invested significantly through our ventures arm into a high tech indoor in contributing towards a more sustainable food supply chain.
farming venture called Livfresh whose aim is to provide the urban city with
a local supply of chemically-free and sustainably grown produce. The Lastly, and as a matter of significant pride for myself, our family, and the
freshness of the leafy green vegetables is amazing to taste and I company, we were recently awarded by Ernst and Young, the EY Family
encourage you to try their produce as well as that of our farm-to-fork, plant Business Excellence Award 2022. Previous winners include some of the most
based brand, HerbYvore, which will be rolling out a line of dairy-free eminent business families in Singapore and this is a strong testament to our
cheeses made with proteins extracted from peas at our facility in Canada. unique family values, and a positive reinforcement for our commitment to
Our dry fractionation operations there have had a stellar year and have sustainability. With this wind in our sails, we are motivated more than ever
booked out their production capacity for food ingredients such as starch to keep strving in our mission, to nourish a changing world!
and protein into 2024!
6
Implementation of
Sustainability Policy
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Environmental, Health and Safety (EHS) Policy
Compliance with all applicable legal and Active engagement with stakeholders to
regulatory obligations as well as voluntary ensure that our sustainability and safety
commitments. approaches and communication remain
relevant.
Key
Continuous improvement of all Ensuring that our business activities are
Objectives sustainability management processes and conducted such that environmental harm
performance. is avoided where possible, and mitigated
when harm is unavoidable.
Management review of all health and Promoting environmentally responsible

safety issues within the company. behaviour both within the company and to
our various stakeholders.
1. IFC Performance Standards (1-6) Implementation & Review

Compliance 2. ISO 14001 Environmental
with management systems This EHS policy will be implemented by
3. ISO 45001 Occupational health Agrocorp’s Sustainability Department and will
and safety management systems
be reviewed every 2 years by the EHS
4. ILO Standards and Conventions
Committee and Management as part of the
5. GMP+
Integrated Management System review.
6. The Better Cotton Initiative

Sustainable Sourcing Policy
Climate Change Adaptation and Biodiversity and eco-systems protection
Agrocorp International believes in conserving our planet’s fragile biodiversity and ecosystems and expects that its
suppliers are not involved in illegal deforestation. Agrocorp is also committed to working with our suppliers to address
climate change risks and ensure that they are operating in accordance with their own governments’ climate action plans.
Environmental Protection
Agrocorp International strives to minimize environmental impacts while engaging in business activities, through
application of its integrated environmental and safety management system (IMS). This includes ensuring that all
business partners comply with Agrocorp’s Environmental Health and Safety (EHS) Policy.
International Regulatory and Standards Compliance

Full compliance with laws and regulations in the various jurisdictions and the prevention of bribery and corruption.
Compliance with international guidelines and standards to which Agrocorp are committed as stated in Agrocorp’s EHS
Policy as well as the biodiversity protection climate change mitigation and adaptation requirements stated above.
Human Rights & Labour Rights

Business activities must not infringe on human rights as defined in the UN Guiding Principles on Business and Human
Rights. Forced labour, Child labour, discrimination of any kind, and harassment must not be tolerated by Agrocorp
International and its business partners.
Agrocorp International respects the rights of employees to associate freely and bargain collectively and requires the
same of its business partners. Agrocorp International strives to fairly and effectively manage its employees’ working
hours, holidays, leaves of absence, and wages in according with local regulations as specified in Agrocorp’s HR Policy.
Monitoring & Reporting

Agrocorp International will monitor application of this policy on a regular basis to identify areas for improvement. We
strives to disclose all information related to the above principles in a timely manner. Should any violations in the above
policy be identified, we will work with suppliers to remediate any impacts through a robust and transparent process.

Emissions Reporting
We have made good progress against our emission reduction goals, delivering on reductions in carbon
emissions from our manufacturing operations. The reduction of waste from our manufacturing process
is also an important area of focus.
Greenhouse Gases Releases in 2021 **For more information, refer to Annual Environmental and Social Monitoring Report 2021
Greenhouse Gases Releases Agrocorp Canada Agrocorp Australia

(Ton/year)
(Plants in Winnipeg, Cut Knife & (Plants in Warrego Highway,
Moose Jaw) Natcha & Yumborra, Dalby)
CO2 12 108
(Reduced by 8 tons since 2020)
NOx 0 0
SF6 0 0
HFCs <1 <1
PFCs <1 <1
CH4 0 0
Solid Wastes (Hazardous Wastes) 0 0
We are in full compliance with all legal Social and Environmental Laws, and continuously monitor our
greenhouse gas emissions and waste generation.

I joined Agrocorp in March 2021 and since then
we have put in incremental efforts to bring
sustainable growth in business by expanding
procurement touch-points, expanding product
portfolio and developing scalable buyers in
destination markets.
Empowering our procurement teams across

Origins and leveraging on their skill sets
developed over years of Origin presence is key to
our scalable and sustainable growth prospects.
The Management Team at Agrocorp

International realizes this Mantra and hence
empowering our Origin Teams has been the
underlying thought across our decision making.
We have imbibed a system and process-based
approach in our business operations and our
teams are fully aligned with the guiding
principles of these systems thereby making the
African Business Model robust.
Devendra Gupta
Head - African Origination

Sustainability Impact:
Environment
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Sustainability Impact (Environment)
Our Pulses Business Agrocorp Pulses Trading Volumes
(in Millions Tonnes)
Agrocorp has firmly established itself as one of the leading players in the global 1.2
pulses market and has consistently ranked in the top 3 globally in terms of 1.0
volumes of pulses moved annually. This market leadership is particularly valuable 0.8
0.7
given the growing importance of pulses in global nutrition.
Pulses represent a fairly low cost and sustainable source of proteins, and
consumption of pulses has been increasing year on year to recognize this. All of
Agrocorp’s existing facilities and sourcing operations, with the exception of the FY20 FY21 FY22 1H FY23
rice mill in Myanmar, are located in regions which allow the company to source
pulses directly from growers, process them into food grade standards, and ship
them into the primary consumption centers in India, Bangladesh, Pakistan, China
and Turkey.
Pulses are a Low Carbon Footprint Food

In addition to being a good source of nutrient, pulses are also good for the Earth.
Pulses are nitrogen-fixing crops, meaning they are able to convert nitrogen in the
air into a plant available nutrient. Pulses can reduce the need for nitrogen
fertilizers, ultimately improving the environmental sustainability of annual cropping
systems.
The amount of nitrogen in the air converted by pulses varies widely and is
impacted by crop species, soil composition, effective nodulation and agronomic
factors such as time of sowing, row spacing, plant population and variety. The
average estimates for Nitrogen conversion annually by crop and pasture legumes
are around 100kg of Nitrogen / hectare of land.

Kevin Collingridge
Seed Commercial Development Officer,
Agrocorp Australia
Agrocorp has a major challenge - “Nourishing a Changing World” and our Seed Division is proud to be
part of that.
Specializing in Pulse Seeds we are concentrating on supplying a growing global market with the highest
quality planting seed available.
Our business is fortunate to be supported by strong management, leadership and a hard working team of
talented people all trying to achieve a common goal.
It is rewarding to be part of this team.
14 Sustainability Report FY 2022/23
We have seen huge demand for agricultural
commodities in China and today China is a
net importer of agricultural products.
Previously, I worked as pulses and grain

buyer. During 8 years working in Agrocorp, I
have set up a strong team in China, mainly
for trading and execution.
Thanks to the support from management

team, we now have a more comprehensive
understanding of agricultural products and
a clearer understanding of our own career
development.
Lisa Zhu
Head of Agrocorp China

Social
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Sustainability Impact (Social)
Our Diverse Workforce
Agrocorp continues to have a growing and diverse workforce and has increased
% of female workforce to 49%. We have 20 offices worldwide and have set up
new office in Bangladesh, Barcelona and New York in 2022.
In the Singapore office, we have had over 20 new hires and also devoted
substantial resources in strengthening the management team. In 2021 and
2022, we have hired a new Head of Hedging & Derivatives, Director of Trading,
Group HR Head and Treasury & Financial Institution Manager.
Total Staff Globally 323

By Gender Globally
Employees Male Female
Agrocorp has conscientiously invested in it’s staff to adopt best business 168 155
practices. Agrocorp is growing towards a larger, stronger and more resilient
workforce built on stability and agility. This is tailored towards creating an (52%) (48%)
optimal environment for the company to achieve sustained growth and also
maximize all stakeholder value for the long-term. By Gender in the Singapore Office
Throughout the years, we have built a robust 14-man management team Male Female
with over 200 years of collective experience between themselves. Our
senior figures are highly qualified with MBAs from Cornell, NUS, IIT and 37 45
other renowned schools. Our traders and executive staff (Finance, Risk,
Shipping, Marketing, HR, IT etc) make up the rest of our cross-cultural and (45%) (55%)
multidimensional working force.

I have been fortunate to be the Australian
HR Manager for Agrocorp for over 5 years.
The support I have received from staff and
management in Australia and globally, has
meant that my role is not only diverse but
rewarding and meaningful.
The supportive culture which is embedded

in Agrocorp has been clearly evident during
the recent pandemic and has allowed us a
company to navigate successfully through
some very difficult and in some cases
unprecedented challenges.
To achieve this demonstrates the strength

and astuteness of management and staff
and I look forward to contributing to the
best of my ability, to Agrocorp’s continued
Russell Darbey growth and success.
Evelyn Teo,
Head of Operations
Australian HR Manager
In 2022, Agrocorp conducted a Employee Engagement Survey in Singapore offices. The purpose of the survey was to
give management an indication of how committed, satisfied and content employees were.
We are planning to conduct a similar global survey in 2023.
The survey has 35 questions in total. Some questions require employees to rate in the scale of 1-5, with 1 being lowest and 5 being highest.
It was completely customized towards the organizations needs and tailored towards 3 main pillars, namely:
• Job satisfaction and Career Development

• Leadership and Support from Management
• Work Environment and Relationship with Colleagues
Career Growth Leadership

• Most respondents have expressed their
confidence in the future development
and growth of Agrocorp.
 • Many feel the leadership from
Management and the professional team

in Trading and others lead to the success.
1 2 3 3.7 4 5 1 2 3 3.76 4 5
Work Life Balance Working Relationship with Colleagues

• Diverse answers on work life balance, and • Good collaboration, opportunity and
 
appreciation on how we manage our stance corporate culture are some of the key
on working from home. feedback
• Work Life Balance is always challenging in
the typical commodity market
1 2 3 3.26 4 5 1 2 3 3.7 4 5

Seyed Imran
Chartering Manager
“Being in the company for the past 9 years, I
have been able to witness Agrocorp’s growth
in an exponential climb.
The shipping team has evolved to

accommodate the volume of growing Agri
commodities trade by playing a vital role in
terms of freight competitiveness and vessel
turnaround.
This has been made possible with the

synonymous relationship with trading,
execution and finance. It has been a great
experience working with Agrocorp.”

Other Employee
Engagement
Diwali Activities in Christmas
Celebration, 2021&22 Celebration,
India & Singapore
Singapore
Green Initiatives,
Australia

Robert Li
Being with Agrocorp for 1 year, I am
Logistics Manager, fortunate to witness the positive
Agrocorp Canada changes in Canada office.
The liberty we have, and flexibility

allowed enable all team members to be
innovative in proposing thoughts,
making solutions, and dedicating to
make deliveries. And it's amazing to
have experts around you to show the
industry practices, market know-hows,
this helps a lot in building the team
stronger.
I am very confident Canada office will

have a promising future and set the
benchmark.
Introduction About Agrocorp Our Processing Facilities Other Operations Partners Contact Us
Governance: Key Management
Vishal Vijay Vijay Iyengar

Director of Strategic Chairman and Managing Ravi Raghavan Abhinav Vijay
Investments Director Director Sustainability Manager
Heads the processing arm where With 25 years of multinational Over 30 years of experience in the Heads the sustainability
he focuses on establishing new experience in agricultural commodities and logistics committees, responsible for
markets and commodity flows for commodities and top-level business holding various senior developing and overseeing the
the company as well as management; pivotal to steering management roles. Currently execution of the group’s
investments further up and down the company to become a leading heads Agrocorp’s shipping and sustainability framework and
the value chain. player within the agri-commodity logistics teams. initiatives.
industry
Sustainability Impact (Governance)
Senior Management Sustainability Committee
Abhinav Vijay Vishal Vijay

Sustainability Committee Sustainability Manager Head of Strategic Investment
Agrocorp International Agrocorp International
Sustainability Team Tim O’Hara Russell Darbey

Head of HR HR Manager
Sustainability Governance in Agrocorp Agrocorp International Agrocorp Processing Australia
ROLES & RESPONSIBILITIES

Sweta Jain Manisha Rawat
The Managing Director is assisted by the sustainability Human Resource Manager HR and Admin Assistant
committee on sustainability matters. The Sustainability council
is headed by Abhinav Vijay and consists of senior members
from various business and support units. Together with Earth
Systems, the committee will develop and oversee the
“
execution of the group’s sustainability framework and
initiatives. It is ever more important that we remain cohesive during
The Sustainability team is responsible for internal monitoring of these trying times. We will ensure a safe and conducive
the IMS under the direction of the Sustainability Manager and working environment for all employees, and enforce
”
the Sustainability Committee. Each operational facility across necessary safety measures in accordance with local
directive
Agrocorp’s global operations shall have an EHS Representative
who will coordinate with the Sustainability Team regularly.
Abhinav Vijay
Committee Chair
EY Family Enterprise Award 2022
In Q4’22, Agrocorp was awarded the EY
Family Enterprise Award of Excellence 2022
• This award recognizes exceptional

entrepreneurs who lead some of
the world’s most successful,
multigenerational family enterprises.
Mr Vijay speaking at • It is a strong testament to our unique

EY Family Enterprise Award 2022 family values, and a positive
reinforcement for our commitment
to sustainability.
• Previous winners include some of

the most prominent family
businesses in Singapore and the
world.

Manisha Rawat
HR and Admin Assistant,
Agrocorp Canada
I've now been with Agrocorp for last five
months, I have experienced that the
employees and management is ultra-
supportive, and you can go to them with
anything.
It's an excellent place to develop skills if

you're diligent and care about people. I
am fortunate enough to work with an
organization that is constantly working
towards better nourishing the world
through responsible and sustainable
sourcing of agri-food products.
I look forward to growing further with the

company in many more years.

New Initiatives
Our Commitment To
Food Security
We play a crucial part in the food supply chain by ensuring food security especially
in emerging markets such as Bangladesh, Pakistan, Sri Lanka and Ethiopia.
Through FY22 and FY23 we actively participate in government tenders in

the regions where food is scarce:
We Participated in all government tenders for

Bangladesh & Pakistan in last 2 years and serviced Pakistan 110,000MT of Wheat
around 60% of all Bangladesh tenders. We are often the Government
Tenders over Bangladesh 250,000MT of Wheat
Sole participant in multiple tenders and maintained the last 12
UNWFP 3,500MT of Chickpea
100% delivery record on all successful tender bids. months
Tunisia 11,000MT of Rice
Agrocorp is a proud supporter of UNWFP, the leading humanitarian organization which delivers food
assistance in emergencies and works with communities from developing countries to improve nutrition.
We have supplied over 10,000MT of pulses to UNWFP and continues to support them with the hope of
achieving a common goal of improved global nourishment.
Our Sustainability Linked Loans
We have successfully signed an 8-year IFC facility for
USD$32.5 Million in 2022.
• The $32.5 million loan will help sustain the flow of safe, nutritious, and
calorie-rich staples to Bangladesh at a time of heightened food
insecurity.
We have doubled USD$50 Million sustainably linked

global inventory financing line with FMO and Rabobank
to enhance food supply chains in developing markets.
In order to meet the sustainability covenants required by

these loans and to incorporate sustainability metrics as
part of our KYC process, we have hired an internal ESG
manager.
“ Agrocorp plays an important role in addressing food security in Asia, which has become more vital with all the
recent shocks in global food-supply chains.
We are delighted to be partnering with the IFC for this loan, which will allow us to scale up our work to provide an
even stronger platform to secure food supplies for emerging markets such as Bangladesh.
-Vijay Iyengar,
”
Chairman & Managing Director of Agrocorp
Agrocorp’s successful businesses focus on
three core essentials: people, process
and product.
For over 30 years, Agrocorp has played a

distinct role in nourishing the changing
world through responsible and sustainable
sourcing of agri-food products and building
enduring partnerships throughout the
supply chain.
Being the Head of Trade Finance is a vital

role to ensure team’s functioning is integral
to successful execution of the company’s
core business. I look forward to contributing
to the continued growth and success of
Agrocorp.
Rakesh Bangera
Head of Trade Finance

Sustainability Focused Initiatives (Investment Portfolio)
High Tech/Urban
Agrocorp launched it’s investment arm, Agrocorp Ventures, Farming
as an outlet for the company to support promising start-ups
whose vision aligns with our own. The investment thesis
Consumer Health
focuses on early stage start-ups which have an innovative Product Goods & Wellness
and industry disruptive business model that is executed
through sustainable practices.
Alternative
Protein
Portfolio companies
Livfresh Big Idea Ventures
Singaporean based farming company adopting high-tech VC fund that invests in early stage start-ups within the plant-
farming methods growing leafy greens such as rockets, based protein, fermentation-based alternative protein and
kale, watercress, through a hydroponics system. cultivated meat sectors.
Hungry Planet
Rocana Venture Partners
American based purveyors of the widest range of premium
An LA-based VC firm that invests in early stage consumer
plant-based meats for a hungry, healthy planet. They have
packaged goods (“CPG”) brands with a focus in alternative
developed products such as plant based pandan chicken,
proteins.
peking pork wraps, burger patties, and more.
Melati Drinks Bigfoot Biomedical

Asia’s first non-alcoholic drink company in Singapore, crafted A US based medical technology start-up which is creating
with 26 healing Asian botanicals to create a delicious drink. devices to assist with insulting requiring diabetes
management
Float Foods
Float Foods is Singapore's first food tech start-up dedicated
to the development of a plant-based whole egg substitute.

Our Venture Portfolio Company: Livfresh
Livfresh
Through high-precision and sustainable urban farming and processing,
LivFresh Farms offers traceable, sustainable and high-quality natural,
nutrition and delicious locally-grown produce.
COMMERCIAL PRODUCTION by March 2023
300MT/YR XIAO BAI CHYE | MA BAI CHYE| JIU BAI CAI

| NAI BAI | CHOY SUM
Available in Wet Markets
700m2 under greenhouse cultivation
in Tiong Bahru, Bendemeer, Pek Kio, Whampoa, Marine Parade
20,000m2 land plot granted by the Singapore government as well as NTUC FairPrice
Working Towards Singapore ‘30 by 30’ Goal

Commitment to
Sustainability
UN Sustainability Goals
1 Nourishing Our World

Responsibly
Agrocorp is one of the world's largest mover of grains and pulses. As an integrated player in
the food supply chain, we have established seed development research programs to help
farmers tackle issues on low pulse protein yield and high crop susceptibility to diseases;
raising the efficacy of pulse growing and production.
We continue to play an important role in food security alleviation. Through FY22 and in FY23,
we actively participate in government tenders in the region where food is scarce, particularly
in government tenders for wheat in Bangladesh and Pakistan we were the sole bidder that
was awarded. We are also a proud supporter of UNWFP and has supplied over 10,000MT of
pulses to the organisation with the hope of achieving a common goal of improved global
nourishment.
In addition, our plant-based retail brand, HerbYvore, promotes a sustainable alternative to
protein consumption.
2 Reducing Environmental
Impact
In alignment with our climate commitment, Agrocorp uses renewable energy such as solar
for our office and plant operations. We continuously seek opportunities to be responsible
producers and consumers. Agrocorp encourages the cultivation of pulses owing to its
natural soil regenerative properties. As part of our sustainable sourcing policy, we work
closely with our farmer partners to avoid issues on intensive monoculture and loss of
biodiversity. In addition, Agrocorp supported water conservation efforts in India to provide
more options of freshwater sources for local communities.

UN Sustainability Goals
Responsible Business
3 Practices
It is imperative that we remain the employee of choice to continually attract, retain, and
develop talent. We proactively equipped our employees with the relevant digital tools to
work safely from their home during the pandemic. Agrocorp embraces gender and cultural
diversity, which we believe is key to our employees' conducive working environment. In
addition, our human resource team works closely with employees to curate and develop a
long-term career growth plan for every employee.
Strengthening Our
4 Food Systems
The pandemic was a clarion call that we must fix our food systems to improve human
health and save planet earth from environmental collapse. With labour and time-intensive
processes embedded in the food supply chain, Agrocorp continuously seeks ways to invest,
innovate and improve efficiencies that reduce waste, and accelerate the time taken for
people to access food. In addition, we must look ahead to groom the future leaders of our
industry. Agrocorp is working with various Institute of Higher Learning (IHLs) to groom
talented individuals to be tomorrow's leaders.

CSR & Community
Outreach
Biodiversity and Conservation
Wildlife Reserves Singapore
(WRS)
As part of our continued efforts in sustainability and the support of
the environment, Agrocorp is proud to support Wildlife Reserve
Singapore (WRS) and its work towards conversing the richness in
biodiversity in Singapore and the region.
Divo and Divo’s Baby
We have supported this program for 3 years. As part of the
program, we have adopted Divo, a male pygmy hippo. Divo
became a parent, and now there is a baby Divo!
Our employees have access to the

zoo and the river safari
A formal ceremony was arranged and our chairman Mr. Vijay Iyengar
presented the cheque to Ms. Isabel Cheng, Senior Director, Partnership
Development at the Singapore Zoo.

Water Conservation Project
Dream Alive’s Project HiFi
(Help in Farmers Interest)
We are supporting Project HiFi(Help in Farmers Interest) with an
NGO Dreams Alive in India. This project supports water
conservation and helps farmers to use modern techniques to Before
increase the yield.
Under this project, we have restored 5 Ponds and a canal in

Nagapattinam, 1 pond in Maruvapalayam Village in Kangeyam
which is the drinking water source for all the nearby villages.
Currently our Project HiFi is operating in the Delta region –
Agapattinam which is a drought-hit zone. Our intention is to
restore water bodies in this area and have identified 40 ponds that
need our intervention. This will be followed by green initiatives
After
and watershed management.
New Water Restoration Project

We have undertaken a water restoration project which will
help many farmers in Wakalwadi, small village in Thane, India
in association with Bhartiya Mahila Federation. On an average
day 10 tractors were used to arrest soil erosion with the silt by
piling it up where the soil is getting eroded by the river.

Women Empowerment Initiatives
Project Smile in Singapore
Agrocorp is proud to be a corporate sponsor for Project

Smile, a women’s empowerment organisation specially
catering to providing life skills to ladies from disadvantaged
backgrounds.
At their annual gala dinner and awards function in Sept 2022, our
director Mrs Akila Iyengar was recognised for her patronage of the
organisation as well as her mentorship and support. The event was
graced by the Minister of Health Mr Ong Ye Kung and featured a
number of performances by the ladies as well as an auction of works
of art produced by them. The dinner raised close to SGD$150k all of
which will go towards strengthening the organisation and its vital
programs.
Marking Project Smile’s 25th year, Agrocorp supported the
concert “Mystique 7” by the Singapore Indian Orchestra and We are proud to continue our support and appreciate the amazing
Choir at the Victoria Theater. The proceeds went towards work of PS volunteers in making a difference to the lives of the
helping disadvantaged women.
Women Beneficiaries and empower them with skills to take on life
challenges with confidence.

Community Engagement
Continuous Learning
We are corporate sponsor of NTU Centre of Excellence

International Trading program and devoting time of our
staff for training purposes as well as judging case
competitions.

Singapore Sports Hub Sponsorship
Singapore Sports Hub is known as one of the

world’s largest and first fully integrated sports,
entertainment and lifestyle destination.
Agrocorp have been a corporate sponsor at

Sports Hub for ten years towards the
promotion and development of sports in
Singapore. In return our staff have access to
a corporate suite at the national stadium.
Photos of our staff attending concert

Caring For the Community
Supporting Kesaria Vision Centre

We are glad to partner AKHAND JYOTI EYE HOSPITAL to support the opening of their
third eye clinic in the East Champaran district on their journey to provide affordable,
quality and sustainable eye care for the residents suffering from visual impairment.
With our contributions to support the opening and operations of this facility, we are
rewarded with smiles and gratitude from the beneficiaries. On the opening day of the
centre, more than 160 patients were screened, of which 45 were identified for cataract
surgery. We know a more positive impact will be felt as the hospital continues the good
work they have started.
Photos showing patients getting eye

care treatment on the opening day
of Kesaria Vision Centre

Our Plant Protein Vision
Consumption of Plant-based Protein is Set to Increase
A growing world population Global Alternative Protein Market Size Forecast
World Population
Protein calories consumed by people all over Alternative Proteins will very likely account for 11% of the protein market
9.7B
*estimate 2050
the world approximate 15-20% of daily
energy intake.
Average consumption of protein is expected
to increase from 26kg to 33kg in 2025
in 2035
% adoption Rate
Million MT
Making Protein Sustainable

Environmental Plant-based Chicken Beef
Impact Meat
Land Usage 1X 23X 44X
Water Usage 1X 23X 57X
Air pollution 1X 14X 67X Consumption of Plant-based protein captures the majority of market share.
Toxic Chemical 1X 6X 55X
Carbon Emission 1X 7X 41X
By 2035, the transition to plant-based alternatives from

traditional agricultural activities for the production of
animal protein could save around 39 billion m3 of water,
free up 240,000 km2 of land previously used for ranching
and save over 1 gigaton of CO2 emissions.
Source: GFIC, BCG, OCBC

Our Plant Protein Business Continues to Thrive
We are now capable of
Over last 12 months producing a market-leading
Volumes of Pea Processed 25,000 MT 60% pea protein concentrate
and are aiming to produce
Protein Concentrate Produced 4,200 MT 70% protein concentrate with
further seed development and
Starch Concentrate Produced 18,300 MT improvements in processing
technology.
Pea Protein Concentrate

Extraction Plant in Canada
Vertically Integrated
R&D Protein Extraction Manufacturing and Retail
Value Chain
Joint Research Programme Plant-based Retail Brand

in Singapore
Our research collaboration with We have successfully launched

SIT aims to better understand plant-based protein block in
the functional properties of retail and eCommerce
plant-based proteins, the channels in Singapore, and are
extraction techniques, and developing a plant-based egg
improve the applications in and a range of cheeses.
plant-based food products.

Joint Research Program with SIT
Research Focus
Looking to introduce enzymes to improve existing
protein extraction techniques to improve yield of
protein as well as reduce water and chemicals
requirement
Enzymes can also be used to convert starch which is a

low value by product into glucose which carries more
value
Four-year research collaboration

with SIT
Also focusing on improving dry fractionation yield
and protein purity using pulse electric field
technology

Protein Concentrate Extraction Plant
Located in the Cut Knife, Saskatchewan Canada, our dry-fractionation
yellow pea protein plant has been operational since 2020. Our plant can
handle up to 24,000 MT of yellow peas and green peas, and is able to
produce 4,000 MT of protein concentrate and 18,000 MT of starch
concentrate.
This new high-tech facility is firmly part of Agrocorp’s vision to become

a leading player in the global market of plant-based proteins, and has
achieved industry leading 60% protein concentrate.
Our plant is HACCP certified.

We procure our yellow peas directly from local farmers, and supply food
manufactures in the plant-based and animal feed industries. As the
major employer in the town of just 500 people, we create job Plant exterior
opportunities in Cut Knife.
Protein Extraction Technology

HerbYvore: From Farm to Fork

Emission Saving from Alternative Protein
Carbon Footprint Comparison between Plant-based
Our Pea Protein Extraction Plant Protein and Animal Protein
(CO2 eq emissions per 100 grams of protein)
is expected to reduce
158,000 MT of CO2
equivalent emissions per year with
annual production of 4,000MT of pea
protein, which is the equivalent of
consuming 4000 kg protein of chicken.
This reduction in carbon emission is
equivalent of planting 5.1 million
trees.
Our HerbyVore plant-based cheese

is expected to reduce
80 kg CO2 equivalent emissions
per 1kg of protein consumption
compared to traditional cheese.
Source: GFI, Our World in Data

Registered Address:
10 Anson Road,
#32-03 International Plaza,
Singapore 079903
Email: [email protected]
Website: www.agrocorp.com.sg
Tel: (65) 6534 4878

Fax: (65) 6534 1426

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Sustainability Report

2022 In Review FY2022 in Review

This chapter offers narrative about 04 Sustainability Policy

Pulses and Protein Strategy

2 Sustainability Report FY2022/23

• 4 pulses processing plants

5 Sustainability Report FY2022/23

Nourishing Our World

Management review of all health and Promoting environmentally responsible

1. IFC Performance Standards (1-6) Implementation & Review

8 Sustainability Report FY2022/23

International Regulatory and Standards Compliance

Human Rights & Labour Rights

Monitoring & Reporting

9 Sustainability Report FY2022/23

Greenhouse Gases Releases Agrocorp Canada Agrocorp Australia

10 Sustainability Report FY2022/23

Empowering our procurement teams across

The Management Team at Agrocorp

Head - African Origination

Pulses are a Low Carbon Footprint Food

13 Sustainability Report FY2022/23

Previously, I worked as pulses and grain

Thanks to the support from management

Head of Agrocorp China

Total Staff Globally 323

17 Sustainability Report FY2022/23

The supportive culture which is embedded

To achieve this demonstrates the strength

• Job satisfaction and Career Development

Career Growth Leadership

Work Life Balance Working Relationship with Colleagues

19 Sustainability Report FY2022/23

The shipping team has evolved to

This has been made possible with the

20 Sustainability Report FY 2022/23

21 Sustainability Report FY2022/23

The liberty we have, and flexibility

I am very confident Canada office will

Governance: Key Management

Vishal Vijay Vijay Iyengar

Senior Management Sustainability Committee

Abhinav Vijay Vishal Vijay

Sustainability Team Tim O’Hara Russell Darbey

ROLES & RESPONSIBILITIES

• This award recognizes exceptional

Mr Vijay speaking at • It is a strong testament to our unique

• Previous winners include some of

25 Sustainability Report FY2022/23

It's an excellent place to develop skills if

I look forward to growing further with the

26 Sustainability Report FY 2022/23

Through FY22 and FY23 we actively participate in government tenders in

We Participated in all government tenders for

We have doubled USD$50 Million sustainably linked

In order to meet the sustainability covenants required by

For over 30 years, Agrocorp has played a

Being the Head of Trade Finance is a vital

Head of Trade Finance

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