Sixth payout for United Oilseeds members
Farmer members of United Oilseeds have received their sixth consecutive profit share payment after another good year for the company.
Some £266,000 has been shared out in total, split depending on the amount of business each member has done with the company over the financial year ended June 2011.
The payout is less than last year’s £320,000 but takes the total to £1.86m over the past six years.
“As a farmer owned co-operative, our key aim is to improve our members’ profitability. This year’s redistribution again shows that, despite challenging trading conditions, we are delivering against that objective and providing our members with outstanding value.”
Chris Baldwin, United Oilseeds
Managing director Chris Baldwin said the co-operative, which has 3,400 members who trade crops and buy seed through it, had continued to grow its share of UK and overseas oilseed markets despite significant market volatility. It had a 25% share of oilseed rape seed sales in the UK and its fixed price traded volumes share to June increased 47% year-on-year, he said.
“As a farmer owned co-operative, our key aim is to improve our members’ profitability. This year’s redistribution again shows that, despite challenging trading conditions, we are delivering against that objective and providing our members with outstanding value,” he said.
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