United Oilseeds awards bonus to members

United Oilseeds is to reward members with windfall payments of up to £4200. 

The farmer co-operative has agreed to distribute retained funds of £303,363 to members who have traded with United Oilseeds in the last year.

The news comes on the back of strong results in 2006, which saw pre-tax profits of nearly £850,000.

This took the company’s net worth to nearly £1.5m and boosted the value of its parent company, United Oilseed Producers, to £2.7m.

The distribution of funds is based on members’ turnover with the company through seed purchase and tonnage traded.

Windfall payments to farmers will range from £10 to £4223. UO’s directors have agreed to make similar distributions each year, subject to financial performance.

Membership increased by 25% in 2006.