US Cargill Q3 profits more than double on agro-services

13 April 2010 19:10  [Source: ICIS news]

HOUSTON (ICIS news)--US-based agribusiness Cargill’s third-quarter net earnings more than doubled to $898m (€665m) from $326m in the same period last year on the strength of its agricultural services businesses and other segments, the privately-held producer of glycerine and biofuels said on Tuesday.

Cargill said earnings in its agriculture services business segment were lifted by a large North American harvest.

 “Industrial earnings were boosted by demand for Cargill's de-icing products as adverse winter weather buffeted parts of North America,” the company said. “The segment also realised an increase in earnings derived from Cargill's investment in The Mosaic Company.”

Cargill has a majority investment in fertilizer producer Mosaic.

($1 = €0.74)

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