Thursday, 30 July 2020 10:55

Ballance returning $54m to shareholders

Written by  Staff Reporters
Ballance chairman, David Peacocke.  Ballance chairman, David Peacocke. 

Ballance Agri-Nutrients has confirmed a farmer rebate of $45 per tonne for the year ending 31 May 2020.

The farmer-owned fertiliser co-op has reported a profit before rebate and tax of $68.9 million. 

In total, it will be returning $54 million to its farmer-shareholders.

Total sales volume for the 2020 financial year, including nutrient products, animal feeds and industrial ingredients, were 1.6 million tonnes.

Ballance says it is well positioned to support the primary sector to drive the prosperity of NZ. It says that in 2019, NZ export revenue attributable to the primary sector was over $45 billion, with about $19.8 billion of this revenue dependent on access to nitrogen fertilisers. 

The co-op says that the employment of almost 74,000 people in NZ is dependent on nitrogen fertiliser. 

“The 2020 financial year has been like no other, with COVID-19 and extreme weather events from floods in the south to drought in the east and north,” says Ballance chairman, David Peacocke.  

“We’re entering a new era, and one thing is for sure, we can look forward to a renewed understanding of the value of the primary sector to NZ global economic future and reputation,” he says.

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