factors contributing to current price , page-6

If you read the CEO?s letter in Olam?s 2010 annual report you will find a table that shows where Olam rated itself in 2005 and 2010 and where it intends to be in 2015 with each of its business units. Under the Almond business unit Olam sees itself as a leader in the Up-stream (farming and plantation) segment and a follower in the Supply Chain and Value Added Services segment. By 2015 Olam aims to be a leader in the Up-stream segment, Supply Chain and Value Added Services segment and Midstream segment.

Of note, Olam doesn?t intend, at this stage, to participate in owning private labels or distributing almonds as part of this business unit. I don?t really know how to interpret this but it would seem clear Olam is not finished yet in regards to extracting further value from the Almond value chain.