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Cargill 1Q 2010 earnings fall by 65%

Cargill 1Q 2010 earnings fall by 65%.
(c) 2010 Elsevier Engineering Information www.ei.org [http://www.ei.org]
Cargill reported a 65% decline in earnings in 1Q 2010 for the three months ending 31 Aug 2009, mainly due to weakening fertilizer sales. Income dropped to $525 M from $1.49 bn year on year. Earnings in agriculture services and food ingredients and applications grew in 4Q 2009, partly due to lower raw materials and operating costs and product mix changes. Origination and processing earnings remain stable. The company also announced the opening of a glycerine refinery adjacent to its biodiesel facility in Frankfurt, Germany, a feed mill in Efremov, Russia, and a speciality canola research and development complex in Aberdeen, Canada.

Date:  21.03.2010

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