North Dakota Mill achieves record profit

by Staff
Share This:

BISMARCK, N.D. — Profits of the North Dakota Mill and Elevator in fiscal 2010 were $13.18 million, which compared with a loss of $9.7 million in fiscal 2009 and a loss of $822,000 in fiscal 2008.

The profit was more than double the mill’s previous record of $6.2 million set in 2006. North Dakota Mill said it has transferred 52.5% of the profit, including $6,260,457 to the general fund and $658,995 to the agriculture fuel tax fund. The remainder is to be used for the mill’s operations.

“The major factors contributing to increased profits were a 13.2% increase in shipments, deferred gains from sales made in fiscal year 2009 and basis gains,” said Vance Taylor, mill manager.

Governor John Hoeven of North Dakota added North Dakota Mill set a record in product shipments, with more than 23 million bus of grain milled and sold around the world.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.