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Oxfam report raises concerns about impacts of Archer Daniels Midland, Bunge, Cargill & Louis Dreyfusyour trading activities on small farmers in poor countries

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Company response
12 September 2012

Response by Bunge: Oxfam report raises concerns about impacts of Archer Daniels Midland, Bunge, Cargill & Louis Dreyfus trading activities on small farmers in poor countries, their access to land & impact on women.

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Company response
11 September 2012

Louis Dreyfus response re concerns about about impacts of trading activities on small farmers in poor countries

Author: Louis Dreyfus

There are numerous references throughout the article to insider trading that we believe are misleading. Bona fide research and analysis of supply and demand for agricultural commodities is something that the sector has consistently engaged in, and such information is increasingly available (often free of charge) through independent and governmental statistics providers - the USDA service is perhaps the best known and most widely used. In fact, any enterprise that fails to understand the business drivers for the sectors in which they operate would not be economically sustainable, and therefore likely to fail. Further, we disagree with a number of the allegations that are made in the article and can only regret that we have not been consulted at an earlier stage on the content.

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Company response
27 August 2012

Archer Daniels Midland response re concerns about impacts of trading activities on small farmers in poor countries

Author: Archer Daniels Midland

At ADM [Archer Daniels Midland], our purpose is to serve vital needs for food and energy. As the world’s populations heads towards 9 billion by 2050, demand for food and energy is growing. We believe that through innovation, investments and partnerships, global agriculture can grow to continue meeting needs for food, feed, fuel and fiber. With its vast global sourcing, transportation and processing network, ADM is efficiently connecting supply and demand every single day. This helps buffer the impact of regional shortages that can lead to price volatility and acute hunger issues. ADM also supports efforts to help smallholder farmers in the developing world grow and preserve more of their own food to help protect them and their communities from price shocks. We’re increasing our presence in key crop-growing regions, helping to connect more farmers to global markets, improving farmers’ livelihoods and enhancing the global supply of crops.

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24 August 2012

[PDF] Comments on “Cereal Secrets: The world’s largest grain traders and global agriculture”

Author: Bunge

We would agree that there are many fundamental causes for movements in agricultural commodity prices. While it is undeniable that there have been major inflows of funds into the commodity futures markets in recent years, at their heart the derivative markets collectively remain a transparent, near real-time reflection
of conditions in the physical, cash markets for agricultural products. Numerous studies, including one by the Commodities Futures Trading Commission, have documented this fact. As mentioned earlier, this season’s weather is both a strong indicator of the relation of the futures markets to physical supply and demand and a clear reflection of their valuable function.

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Company response
23 August 2012

Cargill response re concerns about impacts of trading activities on small farmers in poor countries

Author: Cargill

The report shows that Cargill and Oxfam share the same fundamental objective: finding solutions to feeding a world that is on its way to 9 billion people. Higher agricultural commodity prices, driven by a severe drought in the United States, have rekindled concerns about a potential food crisis. Despite current weather-related challenges, Cargill continues to believe that sufficient supplies exist to feed the world. But when the weather does not cooperate, it becomes even more important that we honor comparative advantage, enable open markets, support smallholder farmers, foster cooperation between public and private sectors, encourage agricultural investment, and reform biofuel mandates. We look forward to continuing our discussions with Oxfam on all of these topics that affect food supplies

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3 August 2012

[PDF] Cereal Secrets: The world's largest grain traders and global agriculture

Author: Sophia Murphy, Institute for Agriculture and Trade Policy, David Burch, University of Queensland, Jennifer Clapp, University of Waterloo, for Oxfam

The major traders, Archer Daniels Midland (ADM), Bunge, Cargill and Louis Dreyfus, collectively known as the ABCD traders, share a significant presence in a range of basic commodities, controlling, for example, as much as 90 per cent of the global grain trade...Traders have been integral to the transformation of food production into a complex, globalized and financialized business. Food prices, access to scarce resources like land and water, climate change and food security are all affected by the activities of traders. As traders continue to exert a great deal of influence over the global food system, they should be held accountable to be responsible actors. Traders are a central node in the food system, within which large-scale change is necessary in order to ensure that everyone has enough to eat – today and in the future.

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