Smaller crops impact United Oilseeds, but signs of area recovery

A smaller oilseed rape crop has affected United Oilseeds’ latest full year figures, but the business believes the decline in the UK crop area has now bottomed out. The co-operative has reported a pre-tax profit of £1.17 million on revenues of £142.5m in the year ended June 30th 2020, compared to £1.45m and £194m in the previous 12 months. Net worth was unchanged at just under £12m. The company will be returning a profit share to its members. “This is a truly excellent set of results, achieved amidst particularly tough agronomic conditions, a volatile trading environment and a record decline in OSR plantings,” notes UO managing director Chris Baldwin. “The 2019 UK rapeseed crop was the smallest area harvested since 2003 – during establishment in autumn 2018, over 30% of the national crop experienced severe damage or failure due to cabbage stem flea beetle. This resulted in an average yield of 3.3 tonnes/ha – below the five-year average yield of 3.5 t/ha. “Despite the 12 % ...