New soybean plant, grain aggregration center coming to SEMO

PEMISCOT COUNTY PORT AUTHORITY, Mo. — An U.S.-based international holdings company has set its sights on southeast Missouri for a new agricultural plant.
Palindromes Inc. has plans to build a Soybean Processing Plant and Grain Aggregation Center at the Pemiscot County Port Authority in Caruthersville, Missouri. The plant would cater towards the higher-end, specialty crops that are geared towards a niche market.
The southeast Missouri port is the “perfect fit” for the new plant, according to Palindromes CEO, Karla Klingner. Palindromes had a set search criteria in selecting the site that included having adequate flood protection and access to river, rail, and roads.
“This was kind of our ideal site and when the opportunity presented itself we acted very quickly, within the day,” she said.
Palindromes hopes to break ground on the site in the spring of 2019 and early estimates have the site operational in 2020. Though they do plan to start taking and aggregating grain in 2019.
Currently, they are looking at how much tonnage is feasible for the plant and how much aggregation they think they can do based on the number of acres are in the ground now and how much is projected over the next three years.
Klingner said that once the facility is fully operation their goal is to have 100 workers.
Being from a rural Missouri community herself, she knows the importance of bringing new jobs and increasing the tax base, along with the additional benefits those bring.
“It isn’t just direct jobs,” Klingner said. “It’s the indirect and the induced jobs that are created with a project like this… paying good wages and bringing opportunities like that to the community has had a great effect.”
The indirect benefits include improved schools and rural hospitals, Klingner added. And a lot of the advantages that the facility brings will be seen by farmers.
“Because this is a niche market, I think one of the benefits for the farmers is going to be our commitment to handling how farmers are paid in a different way,” said Klingner. “A big part of our business model, what we call the market corrector, is getting farmers in a position where they can survive market fluctuations that are out of their control — like a trade war.”
They intend on doing that by in on specialty grains that warrant a premium for the producer above the market price. The processing plant and aggregation center also are meant to limit the number of times that the agricultural product changes hands.
“We are looking to developing longstanding, sustainable relationships…we look forward to working with the community and the farmers,” said Klingner. “We are very excited about the opportunity to be in this part of the state.”

Leave a Reply

Your email address will not be published. Required fields are marked *