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.

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.

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.

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 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.

Wayzata-based Cargill Inc. says the company plans to operate one the largest poultry broiler production facilities in China next year. The facility currently under construction will raise 65 million birds a year. Cargill invested $250 million into the plant. China's poultry industry is rapidly expanding with annual growth at 5 to 6 percent.