Cargill Inc., the world’s biggest crop trader, extended its streak of record annual revenue for its second straight year, helped by strong prices in its grains business.
(Bloomberg) — Cargill Inc., the world’s biggest crop trader, extended its streak of record annual revenue for its second straight year, helped by strong prices in its grains business.
Revenue for the year ended in May rose 7.3% to $177 billion from the prior year, the closely held Minneapolis-based company said Wednesday in its annual report.
Russia’s war in Ukraine and adverse weather for crops around the world has kept prices of agricultural goods high, favoring commodity traders including Cargill. Record crops of corn and soybeans in Brazil have also helped Cargill export more, as the company benefits from higher demand for oils from the renewable diesel industry and for animal feed.
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