A BOLD move to create a multi-billion dollar-valued WA lupin industry could become a reality for WA lupin growers.
It is based on developing lupins as a health food for human consumption throughout the world.
A business case is being completed by a CBH subsidiary company, Australasian Lupin Processing P/L.
Spearheaded by that company's managing director David Fienberg, the business case is described as one of the last major opportunities for WA farmers to develop a high value lupins industry.
According to Mr Fienberg, lupins have ticked all the boxes as an outstanding health food.
"We have interested business partners, we've identified the markets and we're ready to go," he said.
"The time for talk has finished and we have a clear pathway of action, adopting a steady as she goes approach."
Mr Fienberg said the business case was the culmination of 18 months of scoping work talking with farmers, potential business partners and assessing markets.
"Strategically the business case fits with CBH as a food group, the financials are potentially excellent and it fits operationally," he said.
"Historically, lupins have been consigned to the livestock feed market, but a study by the Centre for Food and Genomic Medicine (CFGM) last year reported unequivocal evidence that lupins are more beneficial to humans than first thought.
Farm Weekly reported last year the CFGM study revealed the potential to impact dramatically on world health issues such as diabetes and obesity.
Globally, scientists say the incidence of diabetes is expected to exceed 250 million people by 2025 - resulting in 35 million heart attacks, 13 million strokes, six million episodes of renal failure, eight million instances of blindness or eye surgery, two million amputations and 62 million deaths.
This is a measure of the scale of the problem.
In Australia, 60 per cent of the nation's population is classified as overweight or obese and by 2020, medical researchers predict 60pc will have type two diabetes.
CFGM manager Carolyn Williams said lupins had the potential to be a world super food.
"From the research we have done to date, we have a clear and documented benefit to eating lupins," Ms Williams said.
"In clinical trials we have discovered positive health and medical benefits of lupin-enriched foods on weight reduction, blood glucose and insulin control and lowering blood pressure.
"With lupins having such high protein and high fibre qualities, it could become a cheap food source for third world countries, with associated health benefits."
According to Mr Fienberg, the plan was to develop lupin-based products in all social-economic markets.
"We've already identified where lupins can compete with what I call the beany markets of the Middle East, India, parts of South East Asia and China where price premiums are paid for soybeans, chickpeas and the like.
"Lupins have never been on the radar in these markets but I am very confident that will change," he said. "The compelling value of lupin almost puts it in a market of its own and that's what we would like to develop.
"We're not going to allow lupins to be commoditised and subjected to market vagaries.
"It will stand on its own as a market niche and as a high value health food."
Mr Feinberg said he empathised with lupin growers who were critical of the way lupins had been historically marketed for livestock feed.
"We can dwell on the past or look to the future," he said.
"I can't give a solid answer to the obvious question lupin growers continue to ask about being given more money to grow lupins.
"But I can say, that the way we are going about creating what essentially is a blue sky business, is firmly focused on returning higher values to farmers."
That said, Mr Fienberg knows he has to convince farmers of what might be called the lupin vision.
It's a bit like deep tillage and the vision of better yielding crops.
Upfront costs can be a big deterrent but amortising costs over several seasons to incorporate the ongoing benefits, can actually see meaningful and more profitable changes to gross margins.
"There are a range of ideas that will be canvassed with growers to encourage them to continue growing lupins," Mr Feinberg said.
"We will continue to engage with farmers so they understand the market needs and the market nuances that affect prices.
"We are adopting an innovative approach which raises lupins above being just another product.
"It needs to be seen for its uniqueness to benefit the human race and while that has enormous implications, we're firstly aiming for a solid base before exponential growth.
"It's a hasten-slowly approach."