News

Ag co-ops have record year

USDA under secretary for Rural Development, Dallas Tonsager announced today that America’s ag co-ops experienced a record year in 2011.

“In 2011, net income before taxes for all agricultural co-ops was a record $5.4 billion, eclipsing the previous high of $4.9 billion, set in 2008,” said Tonsager. “Net income was up more than 25 percent, or about $1 billion, from 2010.”

In addition to the sales and income figures, USDA also released their annual list of the nation’s 100 largest agricultural cooperatives. Topping the list once again as the nation’s largest ag co-op is CHS, Inc. out of St. Paul, with $36.9 billion in revenue. It was followed by Dairy Farmers of America, with $12.9 billion in revenue.

Iowa has 14 of the top 100 ag co-ops, the most of any state, followed by Minnesota with 13, Nebraska with 10, California with 6 and Wisconsin 5.

Audio: DallasTonsager, USDA under secretary for Rural Development (6:30 mp3)