Minneapolis-Cargill Inc. reported net earnings of $1.49 billion for the first quarter ending Aug. 31, 2008, up 62 percent from the year-ago $917 million. Cargill said the results received a substantial boost from its investment in The Mosaic Co. “Cargill realized a strong start to our new fiscal year in a continuing environment of outsized volatility in agricultural and energy markets and severe turbulence in financial markets,” said Greg Page, Cargill chairman and CEO. “Our team’s attention to measuring and managing risk, and exercising fiscal discipline allowed the company to respond to supply-and-demand fundamentals in fast moving markets.” Among Cargill’s five business segments, it said the increase in first quarter earnings was led by the industrial segment, which reflected continued demand for crop nutrients in response to the world’s increased need for higher crop yields.
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