Dave MacLennan, chairman and CEO of Cargill, talked with Francine Lacqua and Tom Keene from Bloomberg at the World Economic Forum in Davos, Switzerland, about his concerns for the U.S. farm economy.
Despite Phase I of a de-escalation agreement being signed between the U.S. and China, MacLennan said that exports haven’t increased, and even though China has agreed in theory to increase their U.S. buying, the agreement is “short on details” and lacks mechanisms in place if either party does not comply with its terms. Therefore, Cargill will wait to see what happens and is remaining “cautiously optimistic”.
MacLennan also went on to discuss currency exposure risk, Cargill’s diversified portfolio in more than 70 countries, shifts in food consumption, and answered the question of whether we can expect a Cargill IPO in 2020.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at firstname.lastname@example.org.