Reuters — Global commodities trader Cargill on Tuesday reported that its fiscal year 2022 revenue jumped 23 per cent from a year earlier to a record US$165 billion. The strong result was the latest for a global agricultural commodities trader after rivals ADM and Bunge reported solid earnings last month amid high farm products prices […] Read more
Cargill fiscal 2022 revenue jumps to record US$165 billion
Cargill, Continental close U.S. chicken deal
Washington | Reuters — Cargill and Continental Grain said on Friday that they had closed their deal to buy Sanderson Farms, the third largest chicken producer, in a deal worth some US$4.53 billion. Under the deal, which was announced last August, Sanderson is being combined with Continental Grain subsidiary Wayne Farms. Sanderson will cease trading […] Read more
Cargill plans to close U.K. rapeseed crush plant
Fewer U.K. farmers growing crop
London | Reuters — Cargill plans to close its rapeseed crush facility in Hull, eastern England, the global commodities trader said Tuesday. The mill, which Cargill has been operating since 1985, has the capacity to crush 750 tonnes of seed a day to produce 420 tonnes of rapeseed meal and 323 tonnes of crude rapeseed […] Read more
CEOs of four large U.S. meatpackers to testify in Congressional hearing
Beef prices up for consumers, down for ranchers
Washington | Reuters — The chief executives of U.S. meatpackers Cargill, Tyson Foods, JBS and National Beef Packing have agreed to testify at a Congressional hearing discussing cattle markets and price increases for consumers, House agriculture committee chairman David Scott said Wednesday. “It is very important, very vital, and very urgent that we hear the […] Read more
Quebec group seeks to sue beef packers over pricing
Group's class-action application alleges price-fixing dating back to 2015
A Quebec consumer protection group intends to launch a class action lawsuit against four major beef processors in Canada and the U.S., alleging a “meat pricing conspiracy.” “At a time of high inflation, it is unacceptable to make the price of beef even more expensive than it already is,” Sylvie De Bellefeuille, a lawyer for […] Read more
Bunge says sanctions may have ‘adverse effect’ on Russian operations
Reuters — Global agricultural commodities trader Bunge said continued conflict in Ukraine and stinging sanctions on Russia could have an “adverse effect” on its operations in the breadbasket region. Bunge and rival agribusinesses ADM and Cargill suspended operations in Ukraine last week after Russia invaded its neighbour. But none have stopped their business in Russia […] Read more
Ukraine shuts ports as conflict threatens grain supplies
Moscow/Kyiv | Reuters — Ukraine’s military has suspended commercial shipping at its ports after Russian forces invaded the country, an adviser to the Ukrainian president’s chief of staff said, stoking fear of supply disruption from leading grain and oilseeds exporters. Russia earlier ordered the Azov Sea closed to the movement of commercial vessels until further […] Read more
Biden unveils plan to boost competition in U.S. meat industry
Reuters — The United States will issue new rules and US$1 billion in funding this year to support independent meat processors and ranchers as part of a plan to address a lack of “meaningful competition” in the meat sector, President Joe Biden said Monday. The initiative comes amid rising concerns that a handful of big […] Read more
Strike averted at Cargill’s High River beef plant
Deal hikes wages by 21 per cent and offers large bonuses
Reading Time: < 1 minute Workers at Cargill’s packing plant in High River have overwhelmingly voted for a contract that will hike wages by 21 per cent and provide improved health benefits. “The contract is the best of its kind and presented unprecedented gains in this time of economic and political uncertainty,” United Food and Commercial Workers (UFCW) Local 401 […] Read more
Strike averted at Cargill’s High River beef plant
Deal that hikes wages by 21 per cent and offers large bonuses receives majority backing
Workers at Cargill’s beef packing plant in southern Alberta have voted in favour of a contract that will hike wages by 21 per cent and provide improved health benefits. “The contract is the best of its kind and presented unprecedented gains in this time of economic and political uncertainty,” United Food and Commercial Workers (UFCW) […] Read more
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