We could see that prices of agricultural products have risen, so let’s take a look at the compilation of largest agricultural companies by revenue in the US, published by Insider Monkey. If nothing else, this year has shown us how important the agriculture industry is. Farming the lands and feeding people have always been among the most essential businesses in the world.
According to Insider Monkey’s research, expansion of agriculture is one of the most inevitable way to end famine and extreme poverty in the world. The global population is foretold to reach 9.7 billion by 2050. Actually it’s not an unattainable dream, as comparing to other sectors, the agricultural sector is said to be around two to four times more effective in its growth. It’s pretty controversial, especially knowing that 65% of people who have poor incomes, work in the agricultural industry. As a matter of fact, global agriculture gives the 4% of the total global GDP. The reason is most developed countries focus on other sectors, rather than on agriculture. But agriculture has to face and cope with climate change – its biggest enemy.
Well, let’s see what Insider Monkey has brought up with for today. On the fifth spot, here goes Perdue Farms with its total revenue of the company in 2019 7,100 million in dollars. Perdue Farms comprises both Perdue Agribusiness and Perdue Foods. Perdue Foods operates in processing of beef, pork and chicken, and Perdue Agribusiness is one of the largest grain companies in the United States. It has more than 21,000 employees and was established one hundred years ago. On the third spot AGCO (NYSE:AGCO) stands. AGCO operates in producing agricultural machinery and it’s an giant player in this sector. The name AGCO is the abbreviation of Allis-Gleaner Corporation. AGCO was launched three decades ago, in 1990, after the merger of two major companies. It can boast with assets of about $7.76 billion, however its income has fallen to about $350 million. More than 21,000 people for AGCO which has several major brands, such as Massey Ferguson, GSI, Gleaner,Challenger and Valtra. For more information, please jump to the top largest agricultural companies by revenue in the US.