LDC says too early to assess impact of COVID-19 on business

New Delhi — Louis Dreyfus Company, one of the largest commodity trading companies, said that it is too early to say what impact the coronavirus may have on its 2020 performance.

As of Friday, the pandemic had not significantly affected the group's operations and performance, the company said in its annual report.

The COVID-19 pandemic has come at a time when commodities markets are already beset with difficult market conditions.

LDC said group net income fell to $230 million in 2019 from $364 million in 2018, the company said in its annual report.

"Louis Dreyfus Company (LDC) has reported resilient consolidated financial results for the year ended December 31, 2019, despite significant global challenges including African Swine Fever, geopolitical instability, continued US-China trade tensions and general market oversupply," the company said in a statement.