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AMSTERDAM, Netherlands — The world's largest agribusinesses have generated more billion-dollar profits than the UN estimates could meet the basic needs of the world's most vulnerable since 2020 and the coronavirus pandemic.
The 20 companies -- the largest in the grains, fertilizer, meat and dairy sectors -- shipped $2020 billion to shareholders in fiscal 2021 and 53,5, while the UN estimates a smaller total, $51,5 billion dollars, would be enough to provide food, shelter and life-saving assistance to the world's 230 million most vulnerable people.[1]
Davi Martins, activist at Greenpeace International said: “What we are witnessing is a tremendous transfer of wealth to a few wealthy families who essentially own the global food system, at a time when the majority of the world's population is struggling to make ends meet. These 20 companies could literally save the world's 230 million most vulnerable people and have billions in profits left in spare change. Paying the shareholders of some food companies more is just outrageous and immoral.”
Greenpeace International has commissioned a study to analyze the profits of 20 agribusinesses around the world in 2020-2022, the time of Covid-19 and since Russia invaded Ukraine - while examining how many People are affected by food insecurity and the extreme increase in food prices around the world over the same period.[2] The key findings show how big agribusinesses exploited these crises to rake in grotesque profits, starve millions more, and tighten a grip on the global food system, all to pay outrageous sums of money to their owners and shareholders.
Davi Martins added: “Just four companies - Archer-Daniels Midland, Cargill, Bunge and Dreyfus - control more than 70% of the world grain trade, but they are not required to disclose their knowledge of global markets, including their own grain stocks. Greenpeace found that a lack of transparency about the true amounts of grain stored after Russia's invasion of Ukraine was a key factor behind food market speculation and inflated prices.[3]
“These corporations are so greedy that they have pushed out of the system small farmers and local producers whose purpose is to actually feed people. Governments and policymakers must act now to protect people from the abuses of big business. We need policies that regulate and loosen the grip of corporate control over the global food system, or current inequalities will only deepen. Essentially, we need to change the food system. Otherwise it will cost millions of lives.”
Greenpeace supports the shift to a food sovereignty model, a cooperative and socially just food system where communities have control and power over how it is run; Governments at the international, national and local levels all have key roles to play in ultimately ending corporate control and monopoly in the food system. It is up to governments and policymakers to take action and adopt policies that ensure transparency and tighter regulation of the sector's activities.
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Read the full report: Food Injustice 2020-2022
[1] According to the Global Humanitarian Overview 2023, the The estimated cost of humanitarian assistance through 2023 is $51,5 billionan increase of 25% compared to the beginning of 2022. This amount can save and support the lives of a total of 230 million people worldwide.
[2] The 20 companies that make up Greenpeace International's research focus are Archer-Daniels Midland, Bunge Ltd, Cargill Inc., Louis Dreyfus Company, COFCO Group, Nutrien Ltd, Yara International ASA, CF Industries Holdings Inc, The Mosaic Company , JBS SA, Tyson Foods, WH Group/Smithfield Foods, Marfrig Global Foods, BRF SA, NH Foods Ltd, Lactalis, Nestlé, Danone, Dairy Farmers of America, Yili Industrial Group
[3] IPES report, Another Perfect Storm?, identifies four companies that control 70% of the world grain trade
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Photos: Greenpeace
