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Agrico records record turnover despite a difficult season

19 December 2022 - Jesse Torringa

Seed potato trading company Agrico managed to achieve record turnover in the 2021/22 financial year. As a result, despite the direct cost increase, it was possible to increase the payment to growers by almost 20%. That while it was a challenging season full of difficulties.

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Covid-19 and the war between Ukraine and Russia had a major impact on seed potato sales last season. It was also a major challenge at many destinations to find sufficient containers on time to load the potatoes. Despite this, Agrico managed to achieve record turnover, says director Jan van Hoogen in a press release. "The market situation and the difficulties in loading the potatoes on time made 2021/22 a challenging season. We are therefore very pleased that we have been able to achieve a significant improvement in the result."

Record turnover
Agrico achieved a total turnover of €343 million in the past financial year, a record. In the 2020/21 season, turnover was still €293 million. The growth in turnover mainly comes from seed potatoes with €33 million. Consumption potatoes also accounted for an additional €12 million, despite supply falling by 20% in 2021/22. The remaining €5 million is attributable to Agrico's foreign subsidiaries.

The higher turnover made it possible to increase the payment to growers by almost 35%, despite the direct cost increase of 20%. Compared to the previous financial year, the average price of seed potatoes was 20% higher and the price of consumption potatoes was approximately 47% higher. More was also paid for organic seed potatoes, but the average yield was lower due to Phytophthora.

Agrico is reasonably positive about the prospects for the 2022/23 financial year. The demand for food is enormous and will only increase in the coming years. However, the cost price for growing seed potatoes will increase further next year. The same applies to the costs of transport and in particular sea freight.

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