Cargill Says Grain Rally Means No Food Shortage: Commodities
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Cargill Inc. Chairman and Chief Executive Officer Greg Page says the surge in crop prices during the worst U.S. drought in 56 years will encourage farmers to increase production for 2013.
“While there is a lot of gnashing of teeth and wringing of hands around price, the positive is that it is a signal to the world’s suppliers to intensify the way they produce our food next year,” Page, 61, said in an interview at Bloomberg headquarters in New York yesterday. “Price can be a good thing if the goal is to produce enough calories and enough protein to feed everyone.''