Jan 30, 2020

ADM CEO: No 'Significant' Coronavirus Business Impact for Now

Outbreak could however impact global gross domestic product

source: Reuters

The coronavirus that is quickly spreading across China and beyond is not expected to have a significant business impact on global grain trader Archer Daniels Midland at this point, Chief Executive Officer Juan Luciano told Reuters Thursday.

The company, which operates in China, however, could be impacted if the coronavirus outbreak impacts the global gross domestic product, Luciano said during a post-earnings conference call with analysts.

“We are in a very fundamental business, which is the business of food,” Luciano told analysts. “So I think that we will be impacted to the extent that GDP, the global GDP will be impacted -- and that will depend on the magnitude” of the outbreak.

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