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Cargill Continues Expansion into Aquaculture

153-year-old company continues to retool

Cargill is moving more into aquaculture as part of a reboot of its strategy of being a middleman, reports Bloomberg Businessweek.

“The days of ‘hey, we’re going to buy your crops, we’re going to store it, we’re going to play the carry’ — you know, sell it at a profit — it’s over,” David MacLennan, Cargill CEO, says.

MacLennan plans to remake Cargill into less of a trading operation and more of an integrated food company betting on growing global demand for proteins. Already the world’s No. 1 supplier of ground beef and the second-largest beef packer in the U.S., Cargill is expanding aggressively into aquaculture. MacLennan is also eyeing new forms of protein in line with the growing appetite for “clean food” in the U.S. and Europe.

The company is also spending heavily on technology services that will tie today’s internet-connected farmers more closely to Cargill’s slimmed-down trading business or the new farm productivity apps it’s rolling out.

Read the full report here.

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