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Financial Information

Business Segmentation and Reporting

We organise Olam’s operations into five business segments and three value chain segments for reporting purposes.  The distribution of the 16 platforms across the business segments and the activities across the value chain segments are given below:

5 Business Segments 16 Platforms
Edible Nuts, Spices & Vegetable Ingredients (formerly known as Edible Nuts, Spices & Beans)
1) Edible Nuts (cashew, peanuts, almonds, hazelnuts and sesame)
2) Spices & Vegetable Ingredients (including onion, garlic, and tomato)
Confectionery & Beverage Ingredients
3) Cocoa
4) Coffee
Food Staples & Packaged Foods
5) Rice
6) Sugar and Natural Sweeteners
7) Grains (including wheat, corn and barley)
8) Palm
9) Dairy
10) Packaged Foods
Industrial Raw Materials (IRM)
11) Natural Fibres (cotton)
12) Wood Products
13) Rubber
14) Fertiliser
15) Special Economic Zone (SEZ)
Commodity Financial Services (CFS)
16) Commodity Financial Services (Market-making, risk management solutions and commodity funds management)


3 Value Chain Segments Value Chain Activity
Supply Chain (including value added services) Includes all activities connected with origination, sourcing, primary processing, logistics, trading, marketing (including VAS) and risk management of agricultural products and the CFS business
Upstream Includes all activities relating to farming (annual row crops), plantations (perennial tree crops), Dairy farming and forest concessions
Midstream & Downstream Includes all activities relating to secondary processing, contract manufacturing, branded distribution, private label activities and SEZ


Production of our agricultural products is seasonal in nature. The seasonality of the products in our portfolio depends on the location of the producing country. The harvesting season for most of the agricultural products for countries situated in the Northern Hemisphere generally falls between October and March. Similarly, countries in the Southern Hemisphere have harvesting seasons between April to September. It is also not unusual to experience both delays and early starts to the harvesting seasons in these segments based on actual weather patterns in that particular year.

In addition to an early or delayed harvesting season, the precise timing and size of arrivals of these products can also vary based on the farmer’s selling decisions, which is mainly a function of his view on prices and his inventory holding capacity. The majority of our origins are located in the Northern Hemisphere. Consequently, our earnings tend to be relatively higher in the first half of the Financial Year (January to June) compared to the second half (July to December). Based on this seasonality, we expect the phasing of our earnings to be as follows:

Jan – March
Apr – June
1st Half
Jan – June
July – Sept
Oct – Dec
2nd Half
July – Dec
35 – 40% 25 – 30% 60 – 70% 5 – 10% 25 – 30% 30 – 40%