North Dakota Mill reports record profits | The mighty 790 KFGO

By: Jeff Beach

GRAND FORKS, ND (North Dakota Monitor) – The North Dakota Mill on Tuesday reported record earnings of $20.7 million for fiscal year 2024, a 20.6% increase over earnings of $17.2 million reported for fiscal year 2023.

Vance Taylor, president and CEO of the state-owned plant, gave a report on the plant's financial performance during a meeting of the North Dakota Industrial Commission, which oversees the Grand Forks plant.

The factory has transferred 52.5% of its profits – nearly $10 million – to the state general fund and more than $1 million to the Agricultural Product Utilization Fund. The remaining profits are used for factory operations.

Taylor told the commission that shipments of the mill's Dakota Maid flour brand were up 95% year-on-year. He said demand was largely driven by a resurgence of interest in home baking and serving the food service industry during the COVID-19 pandemic.

He said that's a trend across the milling industry, but the North Dakota mill may be benefiting more than most. “I think we're getting more than our share,” Taylor said.

The North Dakota Mill, officially the North Dakota Mill and Elevator Association, was founded in 1922. An expansion was completed in 2022 and it is the largest flour mill in the country.

Taylor said increased milling capacity was a key reason for the record profits, with shipped volumes up 10% year-on-year.

North Dakota and Kansas are traditionally the largest wheat producers in the country.

Taylor said this year's wheat crop in North Dakota is looking good, with harvest about halfway done, but farmers could use a break from rain.