Executive Director of Cargill David MacLennan, reporting on the results of the company for the year recognized that income "deceived expectations"because the giant agriculture suffered from the devaluation of the Venezuelan currency, and Procter&Gamble.

According to MacLennan, Cargill has taken steps, such as modifying software to increase operational efficiency after the annual period when revenue fell by 19% to $1.87 billion

For the fourth quarter ended may 31, revenue fell by 12% to $424 million

The decline in profit partly reflected the losses from adjustment to the carrying of the report, which was conducted "in order to be considered effective courses of currency in Venezuela."

Changes strict monetary rules of Venezuela, including the introduction of the official exchange rate, which contradict the rates of exchange on the black market, caused problems with balance sheets in the country from companies such as Procter & Gamble, Ford, and Colgate-Palmolive.

However, the company has been reducing in production and processing sector, as in the course of the year, and during the second quarter, reflecting the failure of China from several supplies of U.S. corn imports.

Profit in the sector of food ingredients decreased partly due to weaker economic conditions in some countries".

However, the income is "significantly" increased in the meat sector and in the production of feed, as in the fourth quarter and during the year, helped by the impact of acquisitions in recent years, such as Provimi, as well as improvements in the sector of cattle on the low cost of grain and the high price of meat.

Information from the company came a few hours after the world food organization of the United Nations (FAO ) reported an increase in world prices for meat 14% higher compared to last year.

The last price increase occurred due to the strong increase in the price of meat cattle in Australia, where the herd recovery reduced exports, and sustained import demand in Asia and China", said FAO.

In the case of beef "many exporting countries are in the phase of recovery of the herd, which restricts the export and supports rates".

In the U.S., for example, the price of cattle has reached record highs, increasing prices for beef, as breeders and platforms for fattening compete for supplies.

However, the cattle futures fell to a lower limit in Chicago in the rush to lock in profits caused by fears of contagion from Russia's ban on imports of U.S. agricultural products.