Sunday 04 November 2012
Cargill make great profits
Cargill, the world's largest trader of agricultural commodities, reported a 300% surge in profits to $975m (€743m) during the first quarter of its current fiscal year .
The returns reflect the recent surge in global agricultural commodity prices and a reversal of fortunes for Cargill following disappointing results last year.
By way of comparison, these quarterly profits are higher than what they earned in a full financial year before 2003 and represent 83% of last year's full 2012 profits.
Cargill, a family-owned company founded in 1865, employs 142,000 people in 65 countries and offers a wide range of services and products from animal nutrition, financial, food service to pharmaceutical services,
It also serves the global animal feed and production supply chain by offering; feed manufacturers inputs, vitamins, minerals, additives and animal producers nutritional expertise and branded products for feed retailers around the world.
Last year, Cargill acquired Dutch based Provimi, a global animal nutrition company for an enterprise value of €1.5bn.
Source: Argentine Beef Packers S.A.
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