As Cargill Inc. marks its 50th anniversary of business in Mexico, the group is planning to expand its business in the country, including a $170 million direct investment to supply credit to Mexican farmers, and increasing its procurement of Mexican-grown crops.
Cargill wants to increase its presence in the agricultural supply chain in the country where it just re-inaugurated an animal feed plant.
“We believe Mexico can play a bigger role in feeding the world,” Cargill Chief Executive David MacLennan said.
In addition to the planned $170 million direct investment, under the company’s business plan for the 2015-18 period, the group plans to purchase $4.5 billion worth of Mexican crops and provide $1.1 billion in financial support to local growers.
Cargill has nine business units in Mexico encompassing 30 facilities across 13 states, involved in the importing and exporting of agricultural products including grains, sugar, and edible oil, and financing.