Cargill has reported its fiscal year 2023 revenue increased 7% from a year earlier to $177 billion, the highest ever for the company.
According to Bloomberg, the Russian war in Ukraine and adverse weather for crops around the world has kept prices of agricultural goods high. Record crops of corn and soybeans in Brazil have also helped Cargill export more, as the company benefits from higher demand for oils from the renewable diesel industry and for animal feed.
While the company no longer shares its quarterly and annual financial data, Cargill's sales for June-to-May fiscal year can be found in its annual report.
Reuters noted privately-held Cargill's strong result released on Wednesday was the latest for a global grains trader after ADM and Bunge both reported solid earnings in their most recent quarters and raised their profit outlooks for 2023. The Andersons also improved its earnings performance in the second quarter.
