Apr 27, 2008

Well they did it Food up = Profits up,,,

RE: "How to make more money on food' ..."oil & ethanol see record profits" the same will be said of the food futures market later."

I would like to be wrong but one of the world's largest private companies agribusiness companies has just reported an 86 percent jump in its quarterly earnings.

... noted that these strong earnings are being driven mainly by its commodities division, the booming demand for biofuels, as well as increasing demand in new markets, especially Asia.

Last year, Cargill posted total sales topping $88 billion, and a net profit of $2.34 billion. To put that in context: $2.3 billion is the GDP of Belize.

From Bite Blog,  Via Anna Lappe (Grist)