Fengrain, an East Anglian committed grain trader, has turned in record pre-tax profits of £80,000.

The farmer-controlled business had a bumper year, doubling last year’s profits and pushing its cash reserves to £2.1m.

Chief executive Mark Isaacson said the signs for the future were encouraging, despite the recent loss of a 120,000t marketing agreement with Camgrain.

“The further strengthening of our reserves means that we have a robust business providing confidence for members and customer alike,” he said.

The FCB has recruited 35 new members in two months and recently launched a range of Fenpro contracts, offering fixed and minimum price options.