Potato Starch manufacturer Avebe sets record performance price: 82 euros

Coöperatie Avebe achieved a performance price of more than 82 euros. This is almost 7% higher than last year, when the performance price was set at just over 77 euros. It is also a new record for the cooperative, as the performance price has never exceeded the 80 euros threshold before.

The performance price for the 2016-2017 financial year that ended on 31 July 2017 amounted to 82.16 euros.

The performance price combines the potato money paid to the members and the net result, making it the cooperative’s most important financial indicator.

The financial year was concluded with a cooperative profit of 6.3 million euros.

A subsequent payment of nearly 2.2 million euros to the members will be proposed at the members’ council meeting in December. The eventual ‘payout ratio’ will be 98%.

These excellent results are based in using opportunities in a market that is developing well, in improved production results and good quality potatoes.

The higher payment for starch potatoes has contributed to the continued rising trend in the balance of cultivating starch potatoes. A remarkable result for a year when the balance for many arable crops actually went down.

Bert Jansen, Chairman of the Board:

“During the past year Avebe has become more sustainable and profitable.”

“This result shows that Avebe has the potential to grow and develop.”

“Our focus continues to be on our strength – to achieve added value. We grow in turnover.”

Next year will be characterised by increasing the added value even further. In Groningen, a new innovation centre is under construction where all Avebe’s innovative power will be brought together before the summer of 2018.

The new centre, which will also have room for start-ups, will accommodate the employees of innovation, marketing and sales. They will investigate the possibilities of extracting new ingredients from potatoes.

In Gasselternijveen attention will be paid to scaling up production of high-grade proteins – a unique product with a growing demand across the globe.