The two big fertiliser co-operatives, Ballance Agri-Nutrients and Ravensdown, have announced improved profits for the past year, in the face of rapidly rising increases in the cost of raw materials.
Ballance boosted its trading result by 135% to a record $78.6 million. That was with a 30% higher turnover of more than $650 million and a 12% increase in sales.
It will pay more than $40 million of the surplus in rebates and dividends to farmer shareholders.
Ravensdown has announced a profit of $40 million for the past year. It comes from a record turnover of more than $670 million, up 35% on the previous year.
Ravensdown will return $36 million to farmer shareholders, in the form of a rebate and bonus shares.
