Weaker commodity markets led to a halving of first-half profit at Louis Dreyfus Commodities B.V. , but the global trading group said its growing volumes showed food could withstand economic pressures better than other raw materials.

Louis Dreyfus, like traditional rivals Archer Daniels Midland, Bunge and Cargill that dominate trading in agricultural commodities, has been squeezed by falling prices linked to large global harvests and faltering growth in major commodity markets like Brazil and China.

First-half consolidated net profit, group share, fell to $130 million from $260 million in the first half of last year, while net sales dropped to $26.4 billion from $33.7 billion, the family-owned firm said in a statement on Tuesday.

Its traditional rivals each disappointed investors with their most recent quarterly results, citing factors including the downturn in Brazil and poor margins for crop-based ethanol fuel.

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