Potato Cooperative Agrico presents its members excellent results

Potato cooperative Agrico reported that its 2013/2014 financial year was a good potato year, in which Agrico made good payments to its members for both seed and table potatoes.

Unfortunately, the table potato season ended with low sales prices. Relative to 2012/2013, turnover increased by more than 10 million euros to reach 270 million euros. The extra turnover could almost completely be paid out to the cooperative’s members and to the suppliers from national and international subsidiaries. A total of 195 million euros was paid out, an increase of 4.8%.

The net result, which at 2.8 million euros is comparable with that of last year, was added completely to the equity.

Agrico clarified the annual figures to it members on 12 December during the central board of members’ meeting in the Ducdalf in Espel. During the formal agenda of this meeting, the board of members informed the approximately 200 members present about their activities of the past year, which centered on implementing the new management model. In addition, two new members were appointed to the board, and the meeting said farewell to the retiring members. Besides the formal agenda, there was also an informal programme.

In the subsequent general meeting, Mr Gerard Welling was re-appointed for four years to the Board of Governors of the cooperative, and thereby as a member of the Supervisory Board.

Based on the prospects for seed potatoes for the present season, Agrico foresees good foreign sales. However, the European market in particular is experiencing difficulties, partly due to low consumption prices. Sales of table potatoes are good, but for very poor prices. The yields, and therefore supplies, in Europe are very high. No improvement in the market situation is expected in the short term. The differences in payments between different varieties and products could become very significant.