Grain losses hit Wilmar earnings

Wilmar International, the world’s largest palm oil plantation firm by market value, reported a 28 per cent decline in quarterly earnings on losses from it oilseeds and grains units, missing forecasts and knocking its shares down five per cent. Wilmar, which has a market value of $27bn, booked an October-December net profit of $318.6m, down from $442m a year ago, and missing analysts’ forecasts of $378m.