Cargill to Sell Flour-Milling Unit in Argentina to Molinos Canuelas Sacifia

The giant U.S. agricultural commodity producer and trader Cargill Inc. has decided to sell its flour-milling unit in Argentina to Molinos Canuelas Sacifia, a wheat and oilseed milling company that also makes value-added food products. The deal has to be completed within 60 days and will make the Argentine company the largest flour miller in the country with 25% of a market projected to be 5 million metric tonnes a year. The flour-milling unit comprises of 7 milling plants, with Canuelas having 16% of the market share currently. The other bidder for this unit was Bunge SA, a rival trader and processor.

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