Too busy making money to worry

GLENCORE’S bid to become the biggest company on the London Stock Exchange reveals where power and profits lie in food production.

They are one of the food brokers, retailers, and manufacturers which governments have allowed build up to giant status, capable of manipulating the markets for basic commodities vital for human life. Glencore describes itself as one of the world’s largest traders of metals, minerals, oil products and sugar and claims to be one of the leading exporters of grain from the EU, eastern Europe, and Australia. It is believed to be the largest trader in Russian wheat, followed by US-based rivals Cargill and Bunge.

Cargill trades in grain and other food commodities, with sales for the nine months to last February totalling €58bn.