United OiIseeds announces record £520,000 profits redistribution payment

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Break crop specialist United Oilseeds, the national independent farmers’ co-operative, has announced a record £520,000 profits redistribution payment to its trading members for the financial year ending 30thJune 2022. 

The new profits payment is an 18.2% increase on last year’s amount and means that farmer-owned co-operative United Oilseeds will have paid back over £4 million to its farmer members during the last 10 years. 

The co-operative has 4,500 farmer members throughout the country. The previous year, 2020-21, the profits redistribution payment made by United Oilseeds was £440,000, itself a record payment at the time.

The announcement comes on the back of annual results reported by the  co-operative last month, which showed an 18% increase in profits to over £1.78 million and a growth in net worth to over £15 million.  “We know that our record £520,000 profits share payment to trading farmer members for the financial year 2021-22 will be widely welcomed and it is a significant benefit of co-operative membership,” said United Oilseeds managing director.

Mr Baldwin also highlighted the additional ways in which rapeseed growers can get a better return for their crop and improve their financial bottom line.

Quality bonuses can make huge difference

“Farmers are under a great deal of financial pressure from rising input costs and squeezed margins. It therefore makes sense for oilseed rape growers to use the opportunities available to maximise the potential income they can get for their crop.  For example, quality bonuses based on a crop’s admixture, moisture and oil content can make a huge difference to the price they receive. 

“Rapeseed growers in England with crop in the United Oilseeds Harvest Pool will receive an average quality bonus of over £65 per tonne for their OSR,  bringing the total price they will receive for their crop to £645.39 per tonne,” he continued.

With such large percentages being paid for quality bonuses, United Oilseeds pays for independent quality testing and assessment for its customers’ OSR crops, to ensure a fair and accurate calculation of bonuses earned.

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