By Mary de Wet
Archer Daniels Midland (ADM) experienced a surge in demand for biodiesel and ethanol during the third quarter.
Ag Services & Oilseeds: Delivering Excellence
“Ag Services & Oilseeds delivered another solid quarter, harnessing our Brazilian export capabilities, expanding regenerative agriculture partnerships, and commissioning our Spiritwood production facility to meet the increasing demand for renewable green diesel,” Chairman and Chief Executive Juan Luciano announced.
ADM processed 8.6 million metric tons of oilseeds, a notable increase from 7.7 million tons in the previous year. Additionally, they processed 4.5 million metric tons of corn, up from 4.4 million tons. Overall, ADM witnessed a 9% rise in total processed volumes, reaching 13.2 million metric tons.
“In EMEA, we continued optimizing our flex capacity to focus on higher-margin softseeds, aligning with market opportunities,” stated the human and animal nutrition company.
ADM also experienced robust export demand for biodiesel in the Europe, Middle East, and Africa region.
Carbohydrate Solutions: Driving Strong Results
“Carbohydrate Solutions achieved exceptional results through impeccable execution within favorable ethanol, starches, and sweeteners market conditions. We also secured further customer wins in BioSolutions and made significant progress with the Broadwing Energy project for lower carbon intensity power generation in Decatur,” Luciano emphasized.
“The Starches and Sweeteners subsegment witnessed higher year-over-year results due to a thriving demand environment in the quarter, including increased ethanol production from our wet mills,” ADM revealed.
They added, “North American starches and sweeteners delivered improved margins with similar volumes compared to the previous year, capitalizing on a strong ethanol market. The global wheat milling business recorded higher margins with consistent customer demand.”
“Vantage Corn Processors achieved significantly higher results compared to the previous year, benefitting from robust demand and margins in the ethanol market.”