The state-owned North Dakota Mill reported profits of $14.2 million for fiscal year 2018, an increase of 46% over profits of $9.7 million in 2017.
With the completion of an expansion, the North Dakota Mill set new records in volume shipped and bushels of grain purchased and ground flour. The mill ground 32.9 million bushels of grain and shipped 15.3 million hundredweight of product, resulting in record gross sales of $339 million.
The North Dakota Industrial Commission said in a joint statement: "This is the third-highest year of profits for the mill, and the mill employees are to be commended for their hard work."
“We had great quality spring wheat and durum to work with this year and an increase in shipment volume of 6.4%. Both factors helped to increase profits. We leveraged our Food Safety System Certification 22000 to drive consistent quality and continued to provide a high level of customer service, which resulted in more sales,” says Vance Taylor, North Dakota Mill president and CEO.
The North Dakota Mill transferred 76.25% of its profit — $10.1 million — to the state’s general fund and $709,414 to the agricultural products utilization fund. The remaining profits were retained for mill operations.
The North Dakota Mill, officially the North Dakota Mill and Elevator Association, was established in 1922 and is overseen by the North Dakota Industrial Commission, which consists of Gov. Doug Burgum as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring.
Source: North Dakota Mill