Core Business Resilience
Regional business lines performed resiliently in 2020, with stable or higher volumes across our portfolio and particularly strong financial results in Grains & Oilseeds, Coffee and Rice.
Grains & Oilseeds Growth
LDC grew its regional Grains & Oilseeds flows in 2020. In particular, we significantly increased export volumes from Russia and Ukraine, doubled flows into the Middle East & Africa and re-entered key flows into Egypt, including wheat, corn and soy.
Sustainable Expansion
LDC signed a new US$100 million facility with the European Bank for Reconstruction and Development to support the expansion of operations in Bulgaria, Egypt, Kazakhstan, Poland, Romania, Tajikistan, Turkey and Ukraine, while reinforcing corporate governance to address climate change risks.
Raphael Latz
Cluster Head for Distribution Countries, EMEA
“Our agile, customer-centric approach helped to ensure reliable delivery and avoid supply or commercial disruptions, despite the logistics challenges presented by Covid-19.”
More Regional Highlights
The proportion of palm oil certified by International Sustainability & Carbon Certification and Roundtable on Sustainable Palm Oil shipped to the EU exceeded 80%, with the remainder covered by our Palm Sustainability Policy.
We began the construction of two new multi-commodity warehouses in the port of Abidjan, Côte d’Ivoire, to reinforce storage capacity and support rice distribution at destination.
Also in Côte d’Ivoire, we partnered with the Louis Dreyfus Foundation to educate young talents in sustainable micro-farming through a vocational agricultural school that combines theoretical and practical training.
We opened new distribution businesses for several product lines in Ghana, and increased the distribution of grains and oilseeds products to Kenya, Uganda and East Africa more broadly.
In the first year since expanding operations in East Africa, our Coffee Platform grew origination volumes and performed profitably in the region. In Uganda, we sourced record volumes, supported by increased capacity at local assets.
Working with the Louis Dreyfus Foundation, we engaged with 822 coffee growers in Ethiopia and Uganda, training farmers in good agricultural practices, distributing coffee seedlings and planting thousands of trees.
x2
increase in G&O trade flows into the Middle East and North Africa
1,578
record number of days without lost-time accidents at our Mombasa facility
110,000
coffee trees planted in Uganda and Ethiopia
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Covid-19 Response
Swift and consistent global measures helped keep our people safe and vital supply chains moving, as we continued to deliver for partners everywhere – safely, reliably and responsibly.
Finance
Careful cash management sustained our strong liquidity profile, contributing to our first-ever public investment grade credit rating.
Strategic Partnerships
We forged new alliances in the pursuit of our strategy to move downstream, diversify revenue through value-added products and invest in innovation, helping to shape a sustainable future of food.
Industrial Excellence
A record year in terms of safety despite challenges posed by Covid-19, as well as positive environmental performance and continued investments in our assets.
Grains & Oilseeds
Increased profitability, while diversifying revenue streams and product portfolio, investing in operational network and advancing supply chain traceability
Coffee
Exceptional performance, new investments downstream and continued support for coffee farming communities globally
Rice
Strengthened our position as the world’s leading rice merchandizer, while investing in new assets to reinforce risk management capability
EBRD Loan Agreement
Agreed a new facility to support the sustainable expansion of our activities across eight countries in EMEA.
Covantis S.A.
Helped to establish our joint initiative with industry peers to modernize global trade operations as a legal entity in Geneva, Switzerland.
ADQ: Strategic Partners
Signed an agreement to bring ADQ into our shareholder group, as long-term partners and investors with a common vision for LDC’s future.
