Lower profit for CZAV in turbulent year

Cooperative CZAV closed the 2022/23 financial year with a profit of €5,3 million, it announced yesterday (January 15). This is lower than the previous financial year, but according to the cooperative the result is not disappointing in the past 'turbulent year'.

The profit of €5,3 million is lower than in the 2021/22 financial year when a profit of €6,3 million was achieved. However, the cooperative indicates in a press release that the lower profit is above expectations given the turbulence on the market in the 2023 growing season. Turnover fell due to substantially lower prices for fertilizers and grains, which were still extremely high in 2022. Cheaper fertilizers were beneficial, but lower grain prices offset this benefit for several sectors. "As a stock holding party on behalf of the members, it was a challenge to find the balance between sufficient availability and market-based purchases and sales with strict stock management," says CZAV.

A small increase in turnover in other product groups ensured that total turnover ultimately amounted to €600 million. CZAV indicates that €3,3 million is paid out to members based on purchases from their cooperative.

Jesse Torringa

Jesse is an editor at Boerenbusiness and focuses in particular on the arable farming sector, including grain and onions. He also closely follows the fertilizer market. In addition, Jesse works on an arable farm in Groningen with seed potatoes as the main branch.

j.torringa@boerenbusiness. Nl

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