ND State Flour Mill Sets $16M Profit RecordNorth Dakota's state Mill and Elevator has set a profit record for the second straight year.
By: Associated Press,
(AP) — North Dakota's state Mill and Elevator has set a profit record for the second straight year.
The mill on Thursday reported making $16 million during its last budget year, which ended in June.
That's a 22 percent increase from the previous year's record profit of $13.2 million.
Mill manager Vance Taylor says demand for flour from the state-owned mill jumped 23 percent last year. He says that's the biggest factor behind the profit increase.
The mill sells most of its flour in bulk to bakery customers. It also sells small, family-sized bags of flour through grocery stores, and it has a growing business selling organic flour.
Taylor says it will be difficult to set another profit record next year because of uncertain market conditions.