International group Cargill recently announced a 41% drop of its profit in the first quarter of this year, amid a slowdown in the international grain trade following last year's drought. According to the document, the net revenues of the company fell from 975 million dollars last year, to 571 million dollars at the end of August. However, its revenues remained steady, at 33.8 billion dollars.
The representatives of Cargill România told us that overall, the Romanian branch was off to a good start in the new fiscal year, seeing a good activity on the markets which are more challenging for agricultural goods. "The company's ability to manage the acquisitions of raw materials and their storage over a rather unstable period which precedes the transition towards a new harvest has improved our results", the officials of Cargill România told us.
At the overall group level however, the American giant saw revenue drops across all sectors to a greater or lesser degree, with the exception of the animal protein division, according to the statements of the company's officials, quoted by Reuters.
The same press agency reported that the Group recently acquired two malt producers, one in Australia and one in Canada, as well as a shrimp feed manufacturer in Thailand.
The Cargill department that handles the supply and processing of grain, oleaginous crops, cotton and sugar from farmers, and delivers them all over the world accounts for the largest portion of the company's revenues.
Alexandra Oancă (Translated by Cosmin Ghidoveanu) International group Cargill recently announced a 41% drop of its profit in the first quarter of this year, amid a slowdown in the international grain trade following last year's drought. According to the document, the net revenues of the company fell from 975 million dollars last year, to 571 million dollars at the end of Augu
