News

Smaller crops impact United Oilseeds, but signs of area recovery

United Kingdom
Published Dec 11, 2020

Tridge summary

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.

Original content

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 % reduction in the area of rapeseed that reached harvest from 595,000 ha in 2018 to 520,000 ha in 2019, United Oilseeds still traded nearly 400,000 tonnes of OSR and a ...
Source: AgriTrade
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