Cargill invests in methane research but revenue takes a tumble
Food and crop trader Cargill’s revenue dipped 10% to $160 billion in the year to the end of May, driven by high global crop supplies.
However, the group had enjoyed record profits in preceding years, according to Bloomberg, benefiting from pandemic-driven volatility and Russia’s invasion of Ukraine in 2022.
In July, the group issued a $1 million grant to Colorado State University to help fund the university’s AgNext research programme, supporting research into reducing the environmental impact of the beef industry.
Dr Kim Stackhouse-Lawson, director of AgNext, said: “Working closely with industry partners like Cargill, researchers and producers, AgNext is helping develop innovative, scalable solutions that move the livestock industry toward a more sustainable future. An important part of that is developing robust baseline greenhouse gas emissions from cattle.”
