Cargill reports record profits in 156-year history

Published:  09 August, 2021

The global food, agricultural, financial and industrial products company has reported its most profitable year yet, with US$5 billion net income during the 2021 fiscal year, Bloomberg reports.

Although Cargill stopped releasing results publicly in 2020, it still shares with financial stakeholders. The company has seen record profits thanks to surging consumption of meat, corn and soybeans, particularly from China.

Bloomberg reported that net income was up 64% year-on-year, while the company reported sales of US$134.4 billion, up from US$114.6 billion a year earlier. The company also enjoyed a sales-to-profit margin of almost 3.7%.

Source: Bloomberg