Growth for the sake of growth is the ideology of the cancer cell. Edward Abbey

05 May 2008

Multinationals make billions in profit out of growing global food crisis

  • 100 million people face severe hunger
  • Monsanto's net income for the three months up to the end of February this year had more than doubled over the same period in 2007, from $543m (£275m) to $1.12bn.
  • Monsanto's profits increased from $1.44bn to $2.22bn.
  • Cargill's net earnings soared by 86 per cent from $553m to $1.030bn over the same three months.
  • And Archer Daniels Midland, one of the world's largest agricultural processors of soy, corn and wheat, increased its net earnings by 42 per cent in the first three months of this year from $363m to $517m.
  • The Mosaic Company, one of the world's largest fertiliser companies, saw its income for the three months ending 29 February rise more than 12-fold, from $42.2m to $520.8m, on the back of a shortage of fertiliser.

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