Borders co-op pays out to farmers

By FWi staff

CEREAL growers in the border counties of England and Scotland are to benefit from a payout of more than 200,000.

Northumberland-based Coastal Grains, an 85,000-tonne cereals co-operative, has agreed to pay its 85 members the money from reserves built up between 1982 and 1989, and from surplus income from drying costs after last years wet harvest.

“Being a co-operative we do not need to make a profit from farmer members, who are also our shareholders,” said chief executive Terence Pardoe.

“It is our intention to repay all qualification loans down to 5/t.

“We have already repaid loans made by those who joined in the first seven years, 1982-1989, down to 5/t, and we are now able to start paying out the surplus made in those years.”

Basing the repayment on committed tonnes, members will receive 2/t payback.