Another strong performance in 2011 – Final price $3.30 at 33% premium kernel recovery
The good news is despite processing a smaller than average crop, our work on reducing costs, decreasing factory loss and increasing income has paid off.
On the 2nd of December we paid all growers to notional price and at the Christmas party the Chairman announced the company will pay a further $0.30/kg NIS at 10% moisture for all 2011 conventional NIS deliveries.
This makes our final 2011 price for conventional NIS $3.30/kg at 33% Premium Kernel Recovery or $3.55/kg at the industry standard of 33% Premium KR, 2% Commercial KR and 1% Reject KR, and 65% Whole Kernel.
Our final organic and organic-in-conversion NIS price is $5.94/kg and $5.14/kg NIS respectively, at 33% Premium KR, 2% Commercial KR, 1% Reject KR and 65% whole kernel. The higher final price for organic and organic-in-conversion NIS is due to the considerably higher kernel price received in the market.
For the fourth year running we have delivered on our promise of paying our growers fast and paying them well.
Factory Summary Results
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