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Record profit share payment for oilseed growers

Date Added: 25/05/2009

Oilseed rape growers will receive a record profit share payout of £340,000 following a third consecutive successful year of trading by United Oilseeds.

The redistribution of trading surplus takes the total amount paid back to the company's members to almost £1 million over the last three years. During the same period, United Oilseeds' share of the UK market has continued to grow with fixed price traded volumes increasing by 192%, while member numbers have doubled from 1,568 trading members in 2006 to 3,100 at present.

Chris Baldwin, managing director said, "I am pleased to be able to announce that our members will benefit from a third consecutive annual profit share payment.

"United Oilseeds has continued to grow its share of the UK oilseed market despite facing huge levels of market volatility. Our pool pricing mechanism has performed exceptionally well and we have once again paid the industry's highest pool prices. We have also maintained a 25% share of oilseed rape seed sales in the UK and have added a number of exciting new autumn varieties, including Vision, DK Cabernet, Eiffel and Emerson to our ever expanding seed portfolio."

Mr Baldwin added that "Despite price volatility being a dominant factor, United Oilseeds has been successful in mitigating the level of risk that our members are exposed to as a result of difficult trading conditions. This year's record profit share payment is an added bonus and is the icing on the cake in terms of the financial return that our members benefit from as a result of trading with United Oilseeds."

United Oilseeds: three year performance summary 

Year

Profit share

Trading members

Group net worth

2006/07

£303,000

1,568

£2.72 m

2007/08

£303,000

2,032

£3.15 m

2008/09

£340,000

3,100

£4.04 m

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