East Anglian grain marketing and storage co-operative Fengrain is proposing a £500,000 payout to 626 members that have actively traded with it in the past three years.

The co-op handled 640,000t of grain in the year to the end of July and the payment is worth almost £800 to those eligible.

The proposal comes in the light of the co-op making a £619,815 profit before tax in the year ending 31 July 2015, up from £500,774 the previous year.

The payment is expected to be approved at the company’s annual general meeting on 7 December.