Cargill Inc. – one of UFCW Canada’s largest employers and one of the world’s largest food companies – is reporting banner profits for last year. In fact, Cargill recently announced net profits of $1.49 billion for 2010, representing a 304% increase from this time last year.
The Minnesota based business is controlled by the Cargill-MacMillan families and is the largest privately owned corporation in the world.
In addition to having massive interests in global agriculture production, Cargill is a major player in Canada’s beef and poultry industries: maintaining 32% and 8%, respectively, of total national market share.
Over 4,000 UFCW Canada members are employed by Cargill at eight different facilities across the country.
According to a recent news release by the company, "Cargill generated strong results across the breadth of our businesses”, which include grain production; a segment that got a huge boost after a drought in Russia forced the country to ban wheat exports.
Vol. XI No. 05 • January 31, 2011