Commodities trader Cargill Inc [CARG.UL] on Tuesday posted a quarterly profit ri...
CHICAGO/BENGALURU - Commodities trader Cargill Inc [CARG.UL] on Tuesday posted a quarterly profit rise of more than 19%, as the animal nutrition and protein business unit tapped into rising global demand for meat untainted by the spread of African swine fever in Asia.
Cargill said it was prepared for the changing demand patterns and the shift in global protein flows caused by the disease that has killed up to half of China’s hog herd since August 2018 and pushed Chinese pork prices to record highs. The largest privately held U.S. company by revenue has seen both plant- and animal-based protein as crucial to its success in recent years. Cargill and other agricultural companies have been hit by a sour farm economy, adverse weather and the U.S.-China trade war.
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