April 15, 2008

Cargill Q3 net soars, driven by higher prices and strong demand

Cargill Inc. reported its third-quarter earnings to soar to US$1.03 billion from US$553 million a year ago, helped in part by higher commodity prices and food demand.

The agri-business giant said the largest earnings contribution for the quarter ended February 29 came from its origination and processing unit which sources processes and distributes agricultural commodities and provides supply chain and risk management services.

Cargill is one of the largest diversified services companies in the US. In addition to merchandising grains and oilseeds, the company operates as a transporter of commodities; a supplier of feed, seed, fertilizer, and other products to agricultural producers and a processor of food ingredients and of brand name products, such as meat and poultry products.