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Full Terms and Conditions apply to all Subscriptions. Or, if you are already a subscriber Sign in. Other options. Close drawer menu Financial Times International Edition. Subscribe for full access. Search the FT Search. The Gold Notes were due in , but thanks to record grain prices caused by World War I all debts were paid by As World War I continued into , Cargill made record earnings and faced criticisms of war profiteering.
Four years later, as a fallout from the financial crash of , Cargill posted its first loss. One of the biggest criticisms of the company has been its perceived arrogance see, for example, Brewster Kneen in the Ecologist and also Greg Muttitt in the same journal. The MacMillans' aggressive management style led to a decades-long feud with the Chicago Board of Trade.
It began in , when the Board denied membership to Cargill. The US government overturned the Board's ruling and forced it to accept Cargill as a member. The corn crop failed and with the crop unavailable until October, the Chicago Board of Trade ordered Cargill to sell some of its corn. Cargill refused to comply. In , the Chicago Board suspended Cargill and three of its officers from the trading floor.
When the Board lifted its suspension a few years later, Cargill refused to rejoin, instead trading through independent traders. In , Erwin Kelm became the first non-family chief executive. Aiming for expansion into downstream production , he led the company into milling, starches and syrups.
As the company grew, it developed a market intelligence network as it coordinated its commodities trading, processing, freight , shipping and futures businesses. In the decades before email , the company relied on its own telex-based system for internal communication. When the Soviet Union entered the grain markets in the s, demand grew to unprecedented levels, and Cargill benefitted. US government put pressure on big grain exporters with allegations of manipulating the market, and Cargill was a major target, but it emerged without any major changes.
In Cargill started operations in Venezuela through a partnership with the Possenti family's Mimesa C. Expansion followed thereafter. By the early s, members of the Cargill and MacMillan families became upset that their shares in the company were yielding mediocre dividends. Demands rose for an initial public offering to turn the company public.
It used that stake to begin the employee stock plan. The company's board of directors was reorganized to reduce the number of relatives to six, alongside six independents and five managers. Ernest Micek took over as chief executive in August Cargill underwent turmoil in the following years; its financial unit lost hundreds of millions of dollars in when Russia defaulted on debt and developing countries began to have financial issues.
After a reduction in previously strong bond credit rating , Micek announced he would step down a year early. Warren Staley became chief executive and continued expanding the company and it rebounded. In , Cargill Meat purchased Fresno Meats. In October , the U. Justice Department announced that a biotech specialist at Cargill had pleaded guilty to stealing information from Cargill and Dow AgroSciences.
Kexue Huang, a Chinese national, was discovered to be passing trade secrets back to China. On April 1, , Cargill completed a purchase of a cat and dog food plant in Emporia, Kansas. It was previously owned by American Nutrition. In , Cargill wound down its Black River Asset Management division by shutting down four hedge funds, folding two agriculture and energy funds into Cargill, and spinning off three fund businesses to employees to create the hedge fund Proterra Investment Partners, emerging markets debt specialist Argentem Creek Partners and private equity firm Garda Capital Partners.
In , Cargill announced that it would move its Protein Group headquarters from older buildings in downtown Wichita, Kansas , and consolidate into a new building in Wichita's nearby Old Town area. In , Cargill completed the commissioning of a feed plant in Bathinda, Punjab, India, and manufactures dairy cattle feed under the Purina brand name. In February , Cargill completed the purchase of Pro Pet, a pet food manufacturing company. Marys, Ohio. All 2, employees were recommended for virus testing.
The public health authority of Quebec did not shut down a Cargill plant in Chambly south of Montreal on May 10, The workers are represented by the UFCW. Cargill closed the plant on its own. Also on May 11, the Alberta government disclosed that a second worker from the Cargill plant there had died that day. On 3 June , Cargill announced that it would no longer publish quarterly results, stopping the disclosures that the company has provided since As of December .
As of [update] , Cargill operates in 70 countries across six regions around the world. Starting operations in , Cargill now has a foods business unit Called Cargill Foods India which processes, refines and markets a wide range of both indigenous and imported edible oils, fats and blends to the food industry including Sweekar, Nature Fresh, Gemini, Rath and Shakti brands of Edible Oil.
In it launched Chakki fresh atta in India by the brand name "Sampoorna". Its customers are in the retail, food service sector and beverage industry. Apart from sugar and cotton Cargill India is one of the largest originators and marketers of food and coarse grains in India. Cargill is one of many large food companies buying directly from the Indian farmer.
After the government of India, the second largest buyer of food grain in India is Cargill. It has been buying grains and oilseeds in India since It also has the largest producer of potash that is Mosaic. Cargill started doing business in Pakistan in It also buys raw cotton bales from producers in Pakistan and sells them to China , Thailand and Vietnam.
Cargill sells salt in the US under the Diamond Crystal brand. As a private company, Cargill is not required to release the same amount of information as a publicly traded company and, as a business practice, keeps a relatively low profile. Mighty Earth chair and former U. Congressman Henry A. Waxman called Cargill "the worst company in the world" and said it drives "the most important problems facing our world" deforestation, pollution, climate change, exploitation "at a scale that dwarfs their closest competitors.
Cargill was a major buyer of cotton in Uzbekistan , despite the industry prevalence of uncompensated workers and possible human rights abuses, and admissions made by two representatives that the company is aware of the possible use of child labor in the production of its crops. Their concerns have been public since , but no action has been taken regarding labor violations in their Uzbek operations.
The company has not traded any Uzbek cotton in several years. In February , several employees of Cargill's Dayton, Virginia plant held protests. Their grievances included poor health benefits, bad working conditions, and Cargill's allegedly firing employees who organized to create a union.
Instances of child trafficking from neighbouring Burkina Faso were also reported. Cargill, which buys from the plantations under investigation, at first denied that it was buying cocoa from protected areas, but was forced to admit that its traceability system had not reached these areas, and therefore that it could not fully trace the origins of its cocoa.
We asked days and days ago for that plant to be closed temporarily for two weeks, send all of the workers home with pay to isolate. That was when we were aware of 38 cases. That was before they set up a dedicated testing facility in the area. In , Cargill was named in a class action lawsuit filed by eight former child slaves from Mali who alleged that the company aided and abetted their enslavement on cocoa plantations in Ivory Coast.
The NGO Oxfam has documented an illustrative case of land grabbing. Between and Cargill brought huge areas of land in Colombia under its control despite legal restrictions on the acquisition of state land. To accomplish this, Cargill set up no fewer than 36 mailbox companies, which enabled it to exceed the legally prescribed maximum size of land ownership.
With more than 50, hectares of land, Cargill thus acquired more than 30 times the land legally permitted for a single owner. In , Cargill sold 63, tons of seed treated with a methylmercury -based fungicide that eventually caused a minimum of deaths when it was eaten. The fumigated seed grain was provided by Cargill at the specific request of Saddam Hussein  and was never intended for direct human or animal consumption prior to planting. Cargill's grain—which was dyed red and labeled with warnings in Spanish and English as well as a skull and crossbones design following a previous incident of mercury-treated seed being sold as food in Iraqi markets in —was distributed too late for much of the planting season, causing many farmers to sell their excess product in the public markets at very low prices; this attracted many poor Iraqis who either could not understand the warnings or disregarded them, causing thousands of cases of mercury poisoning.
In October , Cargill announced the recall of nearly , frozen beef patties produced at its packing plant in Butler, Wisconsin that were suspected of being contaminated with E. In August , the USDA and Cargill jointly announced the recall of 36 million pounds of ground turkey produced at Cargill's Springdale, Arkansas , plant due to salmonella fears.
The meat recalled was produced from February 20 to August 2. The Centers for Disease Control and Prevention announced that the particular strain of salmonella found was resistant to commonly prescribed antibiotics. One death and 76 illnesses from 26 states were reported.
Some 25 types of ground turkey produced under various brand names were affected, and all of the packages in question contained the code "Est. In July , the Vermont Department of Public Health said that 10 people in the state had become sick from ground beef being recalled by Cargill Beef. The 10 became sick between June 6 and Three were hospitalized, and all recovered, according to health officials. Hannaford Supermarkets alerted consumers that Cargill Beef was voluntarily recalling 29, pounds of ground beef that might contain salmonella.
Initially supported by job-seeking locals, public opinion turned against the port as jobs have not appeared. In July , the federal prosecutor indicated they were close to shutting down the port. In July , Cargill reportedly joined other soy businesses in Brazil in a two-year moratorium on the purchase of soybeans from newly deforested land. Cargill sells large volumes of palm oil , which is found in many processed foods, cosmetics and detergents.
Most palm oil is obtained from plantations in Sumatra and Borneo , which have been heavily deforested to make way for them. On September 13, NGO Mighty Earth released a report  documenting findings that Cargill purchases cocoa grown illegally in national parks and other protected forests in the Ivory Coast. The report accused Cargill of endangering the forest habitats of chimpanzees, elephants and other wildlife populations by purchasing cocoa linked to deforestation.
In , NatureWorks, a subsidiary in Nebraska, settled with the state over inadequate air pollution controls. As a result of the investigation, it was alleged that the companies had submitted false declarations of sales and routed profits through tax havens or their headquarters. In some cases they were said to have used phantom firms to buy grain and inflated costs in Argentina to reduce the recorded profits there.
Cargill offers several opportunities for graduates in Europe and United States. Some of the programs are:. From Wikipedia, the free encyclopedia. For other uses, see Cargill disambiguation. Not to be confused with Kargil. American-based international food conglomerate. Cargill Malt in Sheboygan, Wisconsin. Operating income. Net income. Main article: Criticisms of Cargill. Main article: Iraq poison grain disaster.
This section may lend undue weight to certain ideas, incidents, or controversies. Please help to create a more balanced presentation. Discuss and resolve this issue before removing this message. November United States portal Food portal Companies portal. July 16, August 9, Business Insider. New York Times. June 30, October 24, Retrieved March 25, Cargill, Incorporated. Retrieved June 15, Retrieved June 12, Midwest Home. August 26, Retrieved November 5, Archived from the original on August 16, Retrieved June 23, The National Provisioner.
August Archived from the original PDF on October 23, Retrieved August 5, The Ecologist. Twin Cities Pioneer Press.