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Olam says agricultural goods demand picking up on China recovery

Singapore commodity trader predicts rebound after net profit dropped 22% in 2020

Olam International faced a delay in an irrigation project in the African country due to the coronavirus pandemic.   © Reuters

SINGAPORE -- Commodity trader Olam International said demand for agricultural products is picking up thanks to the economic recovery in China and other Asian markets, after the COVID-19 pandemic sapped demand and disrupted supply chains last year.

The Singapore-based company trades in a wide range of agricultural goods, including rice, cacao and nuts, and its supply chains span more than 60 countries. Over 80% of its revenue comes from the food category, but the company also handles industrial commodities such as cotton and rubber.

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