UPDATE 1-Commodities trader Cargill's quarterly adjusted profit rises over 19%

19%@ (Adds details on U.S. farm economy, details on numbers)

Jan 7 (Reuters) - Commodities trader Cargill Inc reported a more than 19% rise in adjusted quarterly profit on Tuesday, boosted by growth in its animal nutrition and protein business.

The U.S. farm economy has been hurt by the worst harvest in decades and two years of the U.S.-China trade war that has reduced commodities exports from the United States.

Cargill said its protein business was well prepared to react to the changing demand patterns and the shift in global protein flows, led by factors including the African Swine Fever.

The largest privately held U.S. company by revenue said its adjusted operating earnings rose to $1.02 billion in the second-quarter ended Nov. 30, from $853 million a year earlier. (https://reut.rs/2usZnbh)

Cargill's net earnings rose 61% to $1.19 billion from $741 million a year earlier.

The company said some of its regional origination and processing businesses, particularly in North America, were hurt by trade uncertainty and weather disruptions.

Minnesota-based Cargill's quarterly revenue rose 4% to $29.2 billion. (Reporting by Arunima Kumar in Bengaluru Editing by Vinay Dwivedi)

Related Tags