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Wilmar plunges into first quarterly loss of US$220m

Group, which has warned of the loss, was hit by highly volatile soyabean market and sugar segment woes

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The sugar segment was hit by delayed harvesting in Australia and accounting mark-to-market losses on sugar hedges.

Singapore

THE unforgiving climate led oil palm giant Wilmar International to post its first ever quarterly loss of US$220 million for the second quarter from a profit of US$193 million a year ago.

The sharp swing to the red were mainly led by losses in the manufacturing business