Source: Ukragroconsult (Ukraine)
According to the company’s annual report published on August 13, Cargill’s turnover in the 2024 financial year, which ended on May 31, was 160 billion dollars. Last year, the figure was 177 billion dollars. The decline in sales occurred in an “extremely difficult market environment”.
Brian Sykes, Chairman, President and CEO, highlighted the ongoing challenges facing the global food system due to disruption from conflict, demographic change and unstable economic and environmental conditions. By 2030, the global population will increase by 500 million people, requiring the food system to produce an additional 50 million tons of agricultural products annually, he said.
“Our industry has never faced challenges of this magnitude,” said Sykes. “But agriculture can and must change dramatically in the coming years to provide sustainable food for generations to come. Cargill is proud to contribute to this transformation by leveraging the strength of our people, partnerships and innovation to redefine what’s possible in food and agriculture.”
In this context, Sykes mentioned the Cargill RegenConnect program, which helps farmers adopt sustainable practices to improve soil and water quality, sequester carbon and increase on-farm productivity. Under the program, farmers in 24 U.S. states have achieved the goal of 10 million acres of North American farmland using regenerative agriculture by 2030. The program has also been expanded to six European countries.
Cargill has also committed to end deforestation and land conversion for direct and indirect row crop supply in Brazil, Argentina and Uruguay by 2025 to protect the natural ecosystem of South America. Around 30% of the global trade flows of soybeans, corn, wheat and cotton pass through these three countries.
“Looking ahead, we have developed a clear plan to evolve and strengthen our portfolio to capitalize on promising trends, maximize our competitiveness and, most importantly, continue to serve our customers,” Cargill said. “The world around us is changing rapidly, and we are transforming even faster to achieve our goal of preserving nature for future generations.”