ADM reported an 83% plummet in its fourth quarter earnings, as the recession continues to soften demand for the mainstays of its business: food and fuel.
ADM’s bioproducts division, which amounts to the second largest ethanol producer in the US, swallowed a loss of $160m in the quarter, compared to a profit of $123m during the same period last year.
The US ethanol industry was flung into crisis mode in 2008, torn asunder by the weak price of ethanol and the simultaneously soaring price of corn.
ADM
