Multinationals make billions in profit out of growing global food crisis


	Multinationals make billions in profit out of growing global food crisis

JICWyllie

5-4-2008 4:50 AM

293 views

tags:

food, i-profits, i-hunger, i-increase

2 Comments |

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5-4-2008 5:37 AM

tabsey

Of all of our vices, greed must really rank as the worst. We take it to new heights every day.
(They must be atheists, as no religious person could be involved in this!)

5-5-2008 10:11 AM

chiggles

Irreligious? Disagreed, they follow the teachings of the profits.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2a1c4f52-fb05-48cf-a351-3d27ed446599/9E4952C5-BBDB-4259-A364-D22C01668959/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.independent.co.uk/environment/green-living/multinationals-make-billions-in-profit-out-of-growing-global-food-crisis-820855.html" href="http://www.independent.co.uk/environment/green-living/multinationals-make-billions-in-profit-out-of-growing-global-food-crisis-820855.html" style="font-size: 11px;">www.independent.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/environment/green-living/multinationals-make-billions-in-profit-out-of-growing-global-food-crisis-820855.html">Giant agribusinesses are enjoying soaring earnings and profits out of the world food crisis which is driving millions of people towards starvation, <I>The Independent on Sunday</I> can reveal. And speculation is helping to drive the prices of basic foodstuffs out of the reach of the hungry.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/environment/green-living/multinationals-make-billions-in-profit-out-of-growing-global-food-crisis-820855.html">Monsanto last month reported that its net income for the three months up to the end of February this year had more than doubled over the same period in 2007, from $543m (£275m) to $1.12bn. Its profits increased from $1.44bn to $2.22bn.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/environment/green-living/multinationals-make-billions-in-profit-out-of-growing-global-food-crisis-820855.html">Cargill's net earnings soared by 86 per cent from $553m to $1.030bn over the same three months. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/environment/green-living/multinationals-make-billions-in-profit-out-of-growing-global-food-crisis-820855.html">Similarly, the Mosaic Company, one of the world's largest fertiliser companies, saw its income for the three months ending 29 February rise more than 12-fold, from $42.2m to $520.8m, on the back of a shortage of fertiliser. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9E4952C5-BBDB-4259-A364-D22C01668959/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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