Ag Cooperatives Post Near Record Sales
Agricultural Cooperatives Post Near Record Sales
I’m KayDee Gilkey with the Northwest Farm and Ranch Report.
The nation’s 100 largest agricultural cooperatives reported near-record revenue of $118 billion in 2010. Net income for these top 100 ag co-ops was up more than 10 percent in 2010, reaching $2.4 billion, up from $2.2 billion in 2009.
Although these are 2010 numbers, John McCulley Executive Secretary of the Agricultural Cooperative Council of Oregon states that when ag is strong, ag co-ops reflect that good ag economy.
McCulley: “I think in 2011 when that data comes out, it will probably show even greater revenues and equity positions in co-ops -- which again is just a reflection f the good things that are happening in agriculture in the country.”
With the demand for locally produced food and an increased interest in eliminating the middle man, ag co-ops can be a good fit.
McCulley: “The interest in co-ops I think has always been pretty high in agriculture, but think it is even more so these days as farmers are looking for ways to capture more of the dollars that consumers are spending. The cooperatives have always had a unique ability to help farmers in that regard and I think in these days it is no exception.”
McCulley reminds ag co-ops management and boards of the Northwest Cooperative Council educational seminar and annual meeting in Portland, November 13 through the 14th.
I’m KayDee Gilkey with the Northwest Farm and Ranch Report on the Northwest Ag Information Network.