GRAND FORKS, ND. — North Dakota Mill & Elevator saw earnings increase 17% in fiscal year 2023, setting a new record at $17.2 million.

That compares with $14.7 million in 2022, according to numbers provided to World Grain, a sister publication of Milling & Baking News, by Vance Taylor, president and chief executive officer of North Dakota Mill & Elevator.  Profits for the fourth quarter increased 18% to $5.9 million.

“Increased profits were due to increased shipment volumes, great quality spring wheat and durum crops last year and an outstanding effort from our dedicated employees,” Mr. Taylor said.

The mill is the only state-owned facility in the country. It is the largest in the United States with total daily milling capacity of 60,500 cwts, after adding a 6,000-cwt durum unit and a 4,000-cwt spring wheat unit in 2022.

Sales for the year increased to $532.7 million from $473 million. For the fourth quarter, sales were down to $126 million from $139.4 million in the same period a year ago.

The mill shipped 15.9 million cwts of flour in 2023 compared with 15.6 million cwts a year ago. About 84% of that was in bulk shipments while 15% was in bags and 1.1% in totes.

Looking ahead, Mr. Taylor said the mill continues to see strong demand for its products.