Meat co-op Alliance Group’s Pure South Handpicked 55 Day Aged Beef has won international honours in the World Steak Challenge for the second year running.
Alliance’s platinum and gold shareholders, who supply 100% of their stock to the cooperative, have received the quarterly payments, which cover the period July-September 2018.
It brings the total amount distributed to loyal shareholders for the 2017-18 season to $16.77 million, an increase of 9.3% compared to the 2016-17 season.
Farmers supplying 100% of their lambs are paid an additional 10c/kg for each lamb, 6c/kg for sheep, 8.5c/kg for cattle and 10c/kg for deer.
Alliance chief executive David Surveyor says the loyalty payments reflect how serious the co-op is about rewarding consistent and committed supply.
“As New Zealand’s only 100% farmer-owned major red meat cooperative, farmers are at the heart of every decision we make. We’re committed to delivering our profits back to farmers or re-investing them into the business so we can deliver greater returns.
“Our farmers receive a range of other benefits above the price on the day including through our yield mechanism, priority processing and free store stock facilitation.”
The $1.73m was distributed in shareholders’ bank accounts on Wednesday.