In this article, we will be taking a look at the top 15 agribusiness companies in the world by revenue. To see more of these companies, you can go directly to see the Top 5 Agribusiness Companies in the World By Revenue.
If there’s one industry that has remained indispensable to the economy and to the general livelihood of the global population, it is the agriculture industry. Regardless of global events and developments within the markets or in foreign affairs, food is a commodity that can never lose its relevance. However, it is one that can be heavily impacted by economic trends, a reality that has been observed firsthand over the past few years because of rising inflation.
When the economy struggles, food price inflation cannot be prevented. Any movements in the price of food are always noticed by consumers, financial professionals, and governments because they can positively or negatively impact household expenditures, cost of living, and quality of life. In 2022, food price inflation was on the rise, according to the US Department of Agriculture (USDA). The department noted that in 2022, food prices rose by 9.9%. While food-at-home prices rose by 11.4%, food-away-from-home prices rose by 7.7%. Such price increases have led to social unrest and rising tensions among the population at a time when the economy is already struggling, and consumer spending power is dwindling. It is in light of this reality that the resilience of agribusiness companies such as The Scotts Miracle-Gro Company (NYSE:SMG), Archer Daniels Midland Company (NYSE:ADM), and Nutrien Ltd. (NYSE:NTR) is becoming more important than ever before.
US Agriculture Outlook 2023
Apart from economic problems, another hurdle faced by the agricultural industry through 2022 and well into 2023 was the Russian invasion of Ukraine, which halted supplies from one of the largest agricultural producers and exporters in the world. According to a transcription of the 99th Agricultural Outlook Forum held by the USDA in February, Ukraine was the fourth-largest exporter of corn, fifth-largest exporter of wheat, and top exporter of sunflower oil and sunflower meal. In light of the country’s important position within the global agriculture industry, the blockage of supplies due to the Russian invasion did impact the industry heavily.
However, exports from the country through the Black Sea were resumed after the signing of the Black Sea Grain Initiative on July 22. The situation in that part of the globe has since been eased, and the US government has entered 2023 with a sense of optimism when it comes to its agriculture. It was noted at the Forum that while food price inflation has remained, it has slowed from its 2022 pace, with commodities now being on the market at lower prices. The US expects growth in total planted area for corn, wheat, and soybeans in 2023, relative to 2022, with the Department of Agriculture forecasting the combined acreage for these crops to reach 228 million acres this year. This would represent a growth of 3% from 2022. Projections for the prices of these three crops in 2023 are also currently lower than their prices in 2022.
With such optimism on the rise and the situation steadily improving, it is expected that companies operating within the agriculture industry can expect to reap the benefits of these developments in 2023. Most of these companies have managed to retain their profits and grow their revenues because of the invaluable nature of the product they work to provide. As such, we have listed the top agribusiness companies by revenue operating across the globe today to highlight which names investors should keep an eye on as the situation develops further.
Pixabay/Public Domain
Let’s now take a look at the top 15 agribusiness companies in the world by revenue.
Our Methodology
To compile our list below, we selected companies operating within the agribusiness space with the largest revenues by the end of 2022. These companies range from agricultural pure plays to companies offering agricultural machinery or chemicals and more. They are ranked based on their revenues, from the lowest to the highest revenue.
Top Agribusiness Companies in the World By Revenue
15. Corteva, Inc. (NYSE:CTVA)
Revenue at the end of 2022: $17.5 billion
Corteva, Inc. (NYSE:CTVA) is a company engaged in the fertilizers and agricultural chemicals industry. It is based in Indianapolis, Indiana.
The company has 21,000 employees, and it operates through its Seed and Crop Protection segments. Corteva, Inc. (NYSE:CTVA) offers its clients a comprehensive and complementary portfolio of seed crop protection solutions. Its products include fungicides, herbicides, insecticides, and seed treatments. The company grew its revenue by 6.15% year-over-year in the first quarter of 2023, when the revenue was $4.88 billion.
Corteva, Inc. (NYSE:CTVA), like The Scotts Miracle-Gro Company (NYSE:SMG), Archer Daniels Midland Company (NYSE:ADM), and Nutrien Ltd. (NYSE:NTR), is an agricultural company that is highly profitable.
14. Pilgrim’s Pride Corporation (NASDAQ:PPC)
Revenue at the end of 2022: $17.5 billion
Pilgrim’s Pride Corporation (NYSE:PPC) operates within the packaged foods and meats industry. The company produces, processes, and distributes fresh, frozen, and value-added chicken and pork products. It is based in Greeley, Colorado.
The company is one of the largest poultry processing and chicken-producing companies in the US and Puerto Rico. It is also the second-largest chicken producer in Mexico. Pilgrim’s Pride Corporation (NYSE:PPC) owns and offers several brands in over 100 countries.
13. New Hope Liuhe (SHE:000876)
Revenue at the end of 2022: $20.9 billion
New Hope Liuhe (SHE:000876) is an agribusiness company based in China. The company is engaged in fodder production, livestock and poultry breeding, food processing, and terminal catering.
Through 2017, New Hope Liuhe (SHE:000876) established five research institutes to aid its business. It has 1,024 employees, and it was founded in 1952. The company has also taken the lead in promoting bio-environmental protection feed in China, with a cumulative sales volume of over 1 million tons.
12. Assam Company India (NSE:ASSAMCO)
Revenue at the end of 2022: $21.1 billion
Assam Company India (NSE:ASSAMCO) claims to be the first tea plantation company in the world which was also the first to establish tea estates and to brand and export Indian to the world. It was founded in 1839 and is based in India.
The company owns 14 tea gardens covering over 11,000 acres of land where it has planted different types of Indian tea. Assam Company India (NSE:ASSAMCO) has steadily been incorporating artificial intelligence and smart drones in its plantation process to monitor its crops for pest attacks and other invasions while also administering quality fertilizers for better growth.
11. CNH Industrial N.V. (NYSE:CNHI)
Revenue at the end of 2022: $23.6 billion
CNH Industrial N.V. (NYSE:CNHI) is an agricultural and farm machinery company. It is based in London, United Kingdom.
The company produces and finances agricultural and construction equipment, trucks, commercial vehicles, and more. It has over 40,000 employees, and it was founded in 1842. CNH Industrial N.V.’s (NYSE:CNHI) construction brands include Case IH, New Holland Agriculture, New Holland Construction, and CASE Construction Equipment. The company provides agricultural machinery under these names, among more.
10. Yara International (OTCMKTS:YARIY)
Revenue at the end of 2022: $24 billion
Yara International (OTCMKTS:YARIY) is a fertilizers and agricultural chemicals company based in Oslo, Norway. It provides crop nutrition and industrial solutions.
The company has 17,500 employees, and it was founded in 1905. It works on producing nitrogen-based mineral fertilizers and other industrial products such as phosphate and potash-based mineral fertilizers. Yara International (OTCMKTS:YARIY) has been working on introducing fossil-free, green fertilizers produced using renewable electricity as well.
9. CHS Inc. (NASDAQ:CHSCL)
Revenue at the end of 2022: $47.8 billion
CHS Inc. (NASDAQ:CHSCL) is an integrated agricultural company that provides grains, foods, and energy resources. It is based in Inver Grove Heights, Minnesota.
The company is a Fortune 500 secondary cooperative, and it was founded in 1931. It has 10,014 employees. CHS Inc. (NASDAQ:CHSCL) operates food processing and wholesale, farm supply, financial services, and retail businesses.
8. COFCO International
Revenue at the end of 2022: $48 billion
COFCO International is the Swiss agricultural business platform for COFCO Group, the largest food and agriculture company based in China. The company processes agricultural commodities for distribution and sale across the globe.
COFCO International has over 110,000 employees across 37 countries. Its products and services include grains and oilseeds, sugar, coffee, cotton, and freight. The company was founded in 1949.
7. Syngenta AG (NYSE:SYT)
Revenue at the end of 2022: $33.4 billion
Syngenta AG (NYSE:SYT) is an agrichemical company based in Switzerland. The company provides agricultural science and technology.
Syngenta AG (NYSE:SYT) works in crop protection and seed production. Its crop protection products include Acuron to protect crops from weeds; Adepidyn, an effective fungicide; Fortenza, an insecticide and more. For seed production, the company has developed Agrisure Artesian, a biotechnological innovation that optimizes water usage in corn growth.
6. Flour Mills of Nigeria (NGX:FLOURMILL)
Revenue at the end of 2022: 48.2 billion
Flour Mills of Nigeria (NGX:FLOURMILL) is a diversified agribusiness company founded in 1960. The company is based in Lagos, Nigeria.
The company has over 12,000 employees, and its subsidiaries include Honeywell Flour Mill and Niger Mills Company Limited. Flour Mills of Nigeria (NGX:FLOURMILL) is a leading food business company in Nigeria, and it offers the household food brand, Golden Penny.
Flour Mills of Nigeria (NGX:FLOURMILL), like The Scotts Miracle-Gro Company (NYSE:SMG), Archer Daniels Midland Company (NYSE:ADM), and Nutrien Ltd. (NYSE:NTR), is a top global agribusiness company.
Click to continue reading and see the Top 5 Agribusiness Companies in the World By Revenue.
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Disclosure: None. Top 15 Agribusiness Companies in the World By Revenue is originally published on Insider Monkey.