Cargill CEO Urges Commodity Trading Sector to Embrace Transparency

Apr 16, 2013

U.S.-based Cargill, the world’s largest agricultural trading house – chief executive Greg Page recently spoke at the FIT Global Commodities Summit in Switzerland. Page’s key message was this: “price is one of the most powerful signals on earth, and to be a communicator or disseminator of that price means we must accept huge responsibility.”

Cargill’s own Greg Page urges the commodities industry that trading houses must embrace ethical and transparent business practices or could risk losing public trust. “There are lessons to be learnt from the banking sector, and the forced legislation it prompted and is continuing to prompt,” noted Page.

"The term “trading” has become wrapped-up and confused in the public perception with speculation, hoarding, market fixing, monopolies, cartels and bad practices,” explains Page. Page also made a clear distinction between volatility and turbulence, noting that “outsize price reactions” can have consequences for consumer goods such as food.

While Page stopped short for calling for regulation he said "Better than self-regulation, is the self-realization that our long-term best interests - and society's - are served by good behavior and good transparency." Regulation is one of the hot topics being discussed at the conference.

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.