The largest privately owned US company has posted a four year personal best, starting the new financial period with a 15% rise in its Q1 profits, which have now reached US$172m. Cargill, a major agribusiness group, attributed the increase to a huge upturn in the beef-processing business and within its financial division.
“Agile trading” in sugar and petroleum, together with good cattle supplies and export demand were also cited as positive factors.
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The results have led to renewed hopes that the depressed conditions within the agribusiness sector are receding; however Cargill has conceded that the grain and oilseed markets were still stockpiling.
