BAAR, SWITZERLAND — Glencore Plc reported on Feb. 11 that its total agriculture production for 2015 was 11.5 million tonnes, up 6.4% from 10.8 million tonnes in the same period of last year.
Glencore is working to reduce its debt by $13 billion by the end of the year, and is in the process of selling a minority stake in its Agriculture business.
Wheat milling for the year decreased 4% from 1.01 million tonnes to 976 million tonnes. Currency devaluation and economic slowdown adversely impacted wheat milling in Brazil.
Oilseed crush volumes of 6.1 million tonnes increased by 405,000 tonnes, reflecting the acquisitions of the Magdeburg plant in Germany and the Becancour (TRT) plant in Canada, Glencore said.
Rice milling decreased 10% from 230 million tonnes in 2014 to 206 million tonnes in 2015.
Biodiesel production was 556,000 tonnes, down 27% compared to 2014, reflecting reduced demand due to regulatory changes and lower competing diesel prices.