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UPDATE 1-Bunge to build new soybean plant in Indiana or Ohio

(Recasts; adds background, quote)

Jan 9 (Reuters) - Global agricultural trader Bunge Ltd said on Monday it will build its first new U.S. soybean processing plant in 15 years in Indiana or Ohio to serve growing domestic and export demand for soy products.

The plant is expected to be on line by the end of 2019, Bunge North America said in a statement.

"As we evaluate the long-term demand for soy products, we see the need to improve our asset footprint in the Eastern U.S., a key market," said Tim Gallagher, executive vice president, Oilseed Value Chain for Bunge North America.

The southeastern United States is home to major hog and poultry production. Processed soy products such as soybean meal animal feed and soybean oil, used for food and fuel, could also reach export facilities along the Gulf Coast and East Coast via river barge, rail or truck.

Bunge did not disclose how the final location of the new plant will be determined, nor when the announcement will be made. The company did not immediately respond to requests for additional information. (Reporting by Karl Plume in Chicago; Editing by Dan Grebler)

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