After 169 years of keeping the business in the family, agricultural commodity gi...
Like its peers, LDC has restructured operations, exiting activities including dairy and metals trading while focusing more on food processing, notably in Asia.
“Until 2018 we were in a process of consolidating the company’s shareholder structure. Now the company is free of that issue and can fully focus on the business.”“It is not only about size. It is also about quality.” Commodity group Glencore made an approach for Bunge two years ago and has said the sector needs consolidating. China’s COFCO International has also been seen as a potential bidder for other trading firms as it expands overseas.In October 2019, Dreyfus reported a first-half net profit from continuing operations of $73 million, down from $91 million a year earlier, and said international trade tensions and the swine disease epidemic would weigh on its annual profit.
“We are adapting to a new reality of higher volatility and political unpredictability,” Louis-Dreyfus said, adding that a recovery of crush margins — the profits made from processing soybeans — and cost savings should help 2020 results.
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