Cargill Inc, the largest private US company, said on Tuesday it will idle its corn processing plant in Dimmitt, Texas, from September 20 due to poor returns in the high fructose corn syrup business.
The Minneapolis, Minnesota-based agriculture conglomerate said employment at the plant would be significantly reduced by the elimination of contract workers.
Cargill said it planned to re-evaluate the situation as market conditions evolve.
The company said its other plants producing HFCS are in Blair, Nebraska; Eddyville, Iowa; Memphis, Tennessee; Decatur, Alabama, and Wahpeton, North Dakota.
In March, Cargill agreed to settle for $24 million a class-action lawsuit accusing the company of conspiring with two other firms to fix the price of high fructose corn syrup, a substitute for sugar.
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