LDC Profit and Sales Decline in H1 2023 After Record 2022 Amid Falling Commodity Prices, Plans Sale of Russian Assets
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Louis Dreyfus Company (LDC) reports lower profit and sales in H1 2023 compared to record levels in H1 2022 amid easing market volatility.
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LDC profit falls to $568 million from $662 million while sales drop to $25.8 billion from $30.3 billion.
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Big harvests in Brazil support LDC's grain and oilseed business performance.
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LDC plans to sell its Russian business after halting exports from Russia.
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LDC's cotton, sugar, and rice businesses show resilience despite challenging macroeconomic conditions.