“Although Olam is a relatively new entrant to the grains space, we have chosen to participate in niche segments rather than in mainstream trade flows where the global majors are well entrenched. This niche yet scalable growth strategy is working well for us.”
Prior to our acquisition of Crown Flour Mill (CFM) in Nigeria in 2010, which has 2 port-based milling facilities in Lagos and Warri, millers imported most of the wheat from the United States. This quality but high value import creates a substantial foreign exchange burden on Nigeria. With our major investments in modern milling plants (including the recent acquisition of Dangote Flour Mills) and technical innovations, we have been able to develop a milling process that uses wheat from different origins, which in turn leads to major savings for Nigeria.