Glencore: Profiteering from hunger and chaos

The world’s largest commodities trader is issuing a stock sale, and critics say the firm causes spikes in food prices.

The rapid rise in prices for food, fuel and commodities has been disastrous for the world’s poor, including Indonesian market vendor Lia Romi. But it’s a bonanza for multinational trading firms such as Glencore.

While Romi has trouble feeding her family, Glencore – the world’s largest diversified commodities trader – is planning a US$11billion share sale, likely the largest market debut ever seen on the London Stock Exchange. Continue reading