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.
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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…
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