Cap Seine reports good results
French agricultural cooperative Cap Seine, which is one of the largest in north-western France has recorded a net income of € 4.3 million, up 60% and a consolidated turnover of € 410 million, up 14%.
During the year ending June 2007, this cooperative which has 4,000 members in
the north and west of the Picardie area has collected about 1.2 million tonnes
of cereals including 300,000 tonnes of milling wheat. Products for human
consumption accounted for 50% of turnover, feed 40% and agro-industry
10%.
In 2006 and 2007, the cooperative has strengthened its position in
the agribusiness sector by investing € 10 million for a 6% stake in Syral, a
company specialized in making starch, ethanol or protein from
cereals.
Move into ethanol
This investment follows a
previous participation in 2005 in BENP which operates an ethanol plants in just
open a wheat-based ethanol plant in Lillebonne Seine-Maritieme.
Cap Seine
is diversifying its operations into the agribusiness to make their members less
dependent on fluctuations in the world market for food grains and more alliances
could be expected in the coming months.
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