Higher commodity prices and solid volume growth in most GROWMARK business units produced record sales for the cooperative for the 2012 fiscal year that just ended on August 31.

   Jeff Solberg, chief executive officer of GROWMARK, announced unaudited estimated sales of $10 billion for the 2012 fiscal year, the highest in the cooperative’s history.  GROWMARK’s pretax income is estimated at $295 million, the second highest in the company’s history.  An estimated $140 million in patronage refunds, also a company record, will be returned to GROWMARK member cooperatives and farmer-owners.

   “This is our 85^th year as a cooperative system and we are proud of the progress from our founding to now reporting the strongest sales numbers in our history,” said Solberg.  “Our business is built around our mission to improve the long-term profitability of our member owners.  With our record sales this year, we are able to return a record amount of patronage to our owners.  We remain committed to their success and to the unity of our cooperative system.”

   Highlights reported at the GROWMARK Annual Meeting included record high sales volume for the Plant Food Division due to strong corn acreage, a good fall application window, an early spring season, and market share growth.  The Seed Division increased unit sales of seed corn to a record high, while soybean sales were even with 2011.  The Crop Protection Division set another sales record over last year.  Higher sales of agronomy application equipment and farm grain systems led to increased sales in the Facility Planning Division.

   Another record year was recorded by the Energy Division.  Gasoline and diesel fuel both showed strong growth, while propane was slightly lower than last year.  Lubricant volume remained steady.  Significant renovations at the Council Bluffs, Iowa, lubricant manufacturing facility expanded bulk storage capacity and allowed for key blending processes to be handled in-house.

   The Grain Division reported an increase in bushels marketed through the five grain retail units.  Eastern Grain Marketing began construction on a Norfolk Southern retail loader near Kankakee which will provide increased marketing opportunities for those area farmers when completed.  Risk management services, including MID-CO Commodities and AgriVisor, LLC, reported continued strong demand for the products and services they offer.

   All of GROWMARK’s retail divisions reported a successful year.  Total retail division sales are estimated at $1.7 billion, which includes GROWMARK  FS estimated sales of $260 million, and SEEDWAY estimated sales of $110 million which, if realized, would be a record.  Several acquisitions, efficiency improvements, target marketing, and enhanced personnel resources added to this year’s success.

   “Although we are proud of our financial results, we are very aware of the widespread impact of this year’s drought,” said Solberg.  “Our entire economy will feel the effects in one form or another.  Still, we remain optimistic about the future of agriculture.  We stand ready to support our member companies and customers by continuing to be a reliable supplier of the products and services they need to assist their farmer-customers in meeting the food, fiber and fuel needs of a growing world population.”

   GROWMARK is a regional cooperative providing agriculture-related products and services, as well as grain marketing in 31 states and Ontario.  GROWMARK owns the FS trademark, which is used by affiliated member cooperatives.  For more information, go to www.growmark.com