UPDATE 2-Louis Dreyfus' profits slide on fallout from US drought

miércoles 26 de marzo de 2014 12:48 GYT
 

* Louis Dreyfus Commodities full-year net income $640 mln

* Says margins better in H2 after tight grain supply hit H1

* Tropicals business hit by oversupply, notably in sugar

* Plans Azov Sea port in push in Black Sea grain region (Writes through to add tropicals, quote, background)

By Gus Trompiz

PARIS, March 26 (Reuters) - Global trading group Louis Dreyfus Commodities B.V. posted a sharp drop in net profit for 2013 after a U.S. drought disrupted grain markets and as sugar and other soft commodities were hit by oversupply.

Net income for the full year fell to $640 million from a record $970 million in 2012, the group said in a results statement on Wednesday

Louis Dreyfus is the "D" of the so-called ABCD majors that dominate agricultural commodities, alongside Archer Daniels Midland, Bunge and Cargill.

The worst drought in half a century in the United States in 2012 curbed global grain output the following year and sent prices soaring, cutting volumes and processing margins for traders such as Louis Dreyfus that do business all along the agricultural supply chain.   Continuación...