KUALA LUMPUR: In a world where many global trading houses have taken a hit from the US-China trade war, a giant food trader in Singapore says the spat has been a boon for them – at least in grains.
While Olam International Ltd, one of the world’s biggest agricultural traders, said on Wednesday that net profit tumbled 35% in the second quarter on exceptional losses and shrinking revenues from edible nuts and confectionery, sales volumes in the first half jumped 40%, largely due to growth in grains trading.
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