Cargill Inc.’s profit margins in Brazil, where the agribusiness giant has its largest investments outside the U.S., were the narrowest in four years in 2018 reports Bloomberg.
While currency moves and higher sales volume probably pushed up revenue from Brazil by about 18% to $10.7 billion last calendar year, a truckers strike raised costs and higher domestic soybean prices squeezed processing margins, said Luiz Pretti, who heads Brazilian operations.
Cargill runs 23 plants in Brazil, from soybean and corn processing to food ingredients and biodiesel.
