Cargill’s revenue grows 23% to $165bn
Putting its “deep expertise, unique position connecting the global supply chain, and extensive innovative partnerships to work” helped Cargill lift global revenues 23% in fiscal 2022 ended May 31 to $165 billion, said David MacLennan, chief executive officer, and Brian Sikes, chief operating officer.
The comments from MacLennan and Sikes were part of a letter to stakeholders featured in the company`s 2022 annual report that was released this month. The private company has not publicly disclosed quarterly earnings since early 2020.
Sanderson Farms aquisition
Cargill highlighted several investments undertaken in fiscal 2022 to modernize its global network of facilities, including its 50-50 joint venture with Continental Grain to acquire poultry processors Sanderson Farms.
Global investments
The company also highlighted its $300 million partnership with HELM to build 1,4-butanediol facility in North America, $150 million to open a new pectin plant in Brazil and $100 million to complete upgrades to two cocoa processing plants in West Africa.
Cargill acquired a stake in Latin American salmon maker Multi X and acquired Aalst, one of Asia’s leading chocolate companies. “All of these investments, along with continued business enablement improvements, will help us provide more solutions to our customers and better connect the people who grow food with the markets that need them.” ,” said MacLennan and Sikes.
Giving back
Cargill also said it gave more than $163 million of his to partners and communities during the fiscal year. This includes $20 million for new or expanded partnerships to improve food security and more than $11 million for farmer livelihood programs.
Global meat output for the next 10 years
Global meat production rose 5% in 2021 FAO and OECD have released the Agricultural Outlook 2022-2031 report, a year-on-year review of meat production. According to the report, global meat production.
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Source: Meat+Poultry
