Olam to focus on food ingredients business and sell the rest

Singapore-based food and agri-business conglomerate Olam Group said on April 14 it will invest US$500 million (S$657 million) in its food ingredients business and divest all remaining businesses and assets over time.

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The commodity trader, which counts Singapore's investment company Temasek as its largest shareholder, also said it plans to allocate US$2 billion to repay the debts of its remaining businesses and make them self-sustaining, before pursuing their sale.

Olam said the plan took into consideration the need to strengthen its balance sheet and the resilience of its operating groups "in the face of unprecedented macroeconomic uncertainties, including tariffs".

Commodities ranging from coffee to cocoa have experienced volatile prices alongside global markets amid the economic uncertainty triggered by US President Donald Trump's tariffs and policy orders.