Wilmar pre-tax grains and oilseeds profit up 2% in Q3

In a year where most agribusinesses are suffering due to bumper crops in wheat and corn, Singapore-based Wilmar bucked the trend on Monday posting Q3 pre-tax profits on grains and oilseeds of $253m up from $248m on the corresponding period last year.

The margins were driven by higher crush volumes and margins, the company said.

However, overall profits fell 6% to $370m from $392m due to lower results in its tropical oils and sugar businesses.