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Cargill fiscal 4th quarter net slides 82%

Cargill Inc. reported an 82 percent slide in its fiscal fourth-quarter profit, citing tough trading conditions in beef and soybean processing and an economic and political environment that the agribusiness group has said distorts the pricing of risk, Dow Jones reports.
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Cargill Inc. reported an 82 percent slide in its fiscal fourth-quarter profit, citing tough trading conditions in beef and soybean processing and an economic and political environment that the agribusiness group has said distorts the pricing of risk, Dow Jones reports.

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Related

Cargill to invest nearly $400 million in Africa

Bloomberg News is reporting Cargill Inc. plans to develop industrial palm-oil plantations and processing facilities in Ivory Coast within five years. The Minnetonka-based agribusiness giant may invest $380 million in the project. Cargill is one of the biggest cocoa exporters in the West African nation, the world’s top grower of the crop.

Cargill to cut 2,000 workers

The Wayzata-based agribusiness employs 6,600 employees in Minnesota, and although the cuts are not focused in any one area, Cargill won't say how many Minnesota workers will be laid off.

Cargill to boost biodiesel production in Missouri

Cargill Inc. plans to increase the production capacity of its joint-venture Paseo Biofuels LLC biodiesel plant in Kansas City by 40 percent, Reuters reports. The Minnetonka-based agriculture giant expects the expansion to be complete by March 2013.

Cargill recalls 30,000 pounds of ground beef

Minnetonka-based Cargill is voluntarily recalling ground beef due to salmonella concerns. The 85 percent lean ground beef was produced at Cargill's plant in Wyalusing, Pa., on May 25, and repackaged for sale to consumers of a Maine-based grocery chain, the Associated Press says. The chain sold the ground beef in Massachusetts, Maine, New Hampshire, New York and Vermont.

Cargill claims to be victim in fraud scheme

Minnetonka-based Cargill Inc., one of the world's largest commodities traders, claims in a new lawsuit that it was duped in a business fraud that involves the sale of fake renewable energy credits, the Star Tribune reports. The company says it arranged to buy 1.2 million biodiesel credits from a New York broker in 2010, and learned later the credits were invalid.

Cargill seeks greener ships for bluer oceans

The Minnesota agribusiness giant is one of the world's biggest shippers of agricultural products, and it has started rating ocean-going vessels for fuel efficiency, the Star Tribune reports. The company vows to avoid use of high-polluting vessels, and officials say that won't get in the way of profits.