U.S. ag co-ops post record high net income of $7 billion

06.10.2016

CHS, Inc., a fuel, grain and food cooperative based in Inver Grove Heights, Minnesota, U.S., remained the nation’s largest cooperative.
 
Farmer, rancher and fishery cooperatives in the United States posted record high net income of $7 billion in 2015, which was an increase of 14% from the previous year, the U.S. Department of Agriculture (USDA) said.

“The cooperative business model continues to perform strongly,” said Tom Vilsack, U.S. secretary of agriculture. “While the model has long been one of the hallmarks of rural economies, its reach has greatly expanded to include almost every aspect of U.S. commerce. The latest data show that cooperatives are a key to building stronger and more vital communities, particularly in rural areas.”

The top 100 agricultural cooperatives for the year were announced, with Iowa home to 15 co-ops, more than other state. Minnesota came in second, with 11 co-ops, and Nebraska was third, with 9. The USDA said California and Illinois each have 6 co-ops and Wisconsin has 5.

Total business volume fell in 2015 to $149 billion for the top 100 co-ops, down 16% from $177 billion in 2014, the USDA said, but net income increased.

CHS, Inc., a fuel, grain and food cooperative based in Inver Grove Heights, Minnesota, U.S., remained the nation’s largest cooperative, with $34.7 billion in total business volume for 2015. The second largest was Dairy Farmers of America, a milk marketing cooperative based in Kansas City, Missouri, U.S., with 2015 revenues of $13.9 billion, the USDA said.


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