(Reuters) – Singapore’s Olam Group Ltd posted an 88.8% fall in first-half profit on Friday, hurt by a lower crop yield from its almonds orchards in Australia and by higher borrowing costs.
Olam, one of the world’s biggest agricultural commodity traders, posted a profit attributable of S$48 million ($35.6 million) for the six months ended June 30, compared with S$429.1 million a year earlier. ($1 = 1.3490 Singapore dollars)
(Reporting by Echha Jain in Bengaluru; Editing by Shinjini Ganguli)
