Sujet bts ci foot not ethanol

Pages: 6 (1380 mots) Publié le: 16 mars 2011
Food, Not Ethanol, Fuels ADM's Big Quarter

Despite all the money pouring into renewable fuels, the big story for the agricultural giant remains its grains biz.

Archer-Daniels-Midland's ( ADM ) stock got a lot of mileage out of its big ethanol investments, but lately the fuel biz hasn't been performing up to snuff. Still, the company is profiting from its long-standing role as a worldwideagricultural middleman, processing and distributing food to an ever more populous and prosperous world.

A year ago, Ethanol processors rushed to build new plants, and, with corn prices high, farmers planted as much as they could.

A year later, supply is catching up to demand. While corn prices remain high, ethanol prices have fallen and are expected to continue to fall.

ADM says it willkeep focusing on fuels and other new products, particularly the next generation of bio-fuels. "We'll never get to some of these second and third generation opportunities if we ... abandon our corn ethanol base".

The strength of ADM's other, traditional businesses could give the firm the breathing room to stick with this strategy.

Despite the weakness of ethanol profits, ADM has been able tomake hay from rising crop prices. Revenues were $12.8 billion, up from 36% the previous quarter and ADM shares surged 6.5% by midafternoon on Nov. 6.

Growing middle classes in emerging countries like China and India are hungry for more meats and higher-end food. "Huge populations are becoming wealthier, and, as they become wealthier, their diets change," a journalist says. "That's a trend that'sgoing to persist for a while," she adds.

Also, ADM has benefited from a few short-term developments. It is the handler of a lot of crops from North America, which saw huge crop harvests this year. By contrast, Australia has been suffering from a drought, giving American crops less competition globally.

Still, there are concerns about ADM's long-term strategy. ADM, as a middleman in the foodbusiness, can get squeezed the same way it did on ethanol. For many products, ADM's profit margins are subject to the whims of commodity markets.

So far ADM has been able to pass on food price increases on to customers as it meets growing global demand.ADM is expected to use its substantial clout in Washington to revive its alternative fuels business. New mandates from the federal governmentcould be what ADM needs to again rake in big profits on ethanol.

Adapted from Business Week, November 6, 2007.


Après avoir lu ce texte attentivement, vous en ferez un compte-rendu, en français, en faisant apparaître les idées essentielles. (220 mots + ou – 10%).


Répondre en anglais aux deux questionssuivantes:

1. What are the risks and the favorable opportunities a company such as ADM can be exposed to? (150 words + ou – 10%)

2. Why is it vital for firms to continue researching in alternative fuels to ethanol? (150 words + ou – 10%)


Lettre à élaborer et à rédiger en anglais selon l'usage commercialcourant.

- expéditeur: Yann Lebriseux, directeur des achats, SAE, 56 rue des Bruyères, 86000 Poitiers

– destinataire: Nancy Stewart, directrice des ventes, AMTEC, Newark DE, 19702, USA

– objet: commande n° 08/0233

– date: 30 avril 2008

corps de la lettre:

• commande passée le 15 février dernier de 15 appareils de mesure.
• référence produit SZ 92A FB
•prix convenu €1100 l'unité
• vous vous inquiètez du suivi de la commande: marchandise non reçue à ce jour.
• La marchandise aurait dû arriver en France le 05 avril
• Facture reçue avec un prix erroné de €1850 (copie jointe)
• demande d'annulation de la facture et établissement d'une nouvelle facture.
• Vous souhaitez être informé des raisons de ce retard de...
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