Coöperatie Avebe achieved a performance price of more than EUR82, meaning it is almost 7% higher than last year, when the performance price was set at just over EUR77.

It is also a new record for the cooperative, as the performance price has never exceeded the EUR80 threshold before.

The performance price for the 2016-2017 financial year that ended on July, 31, 2017 amounted to EUR82.16. The performance price combines the potato money paid to the members and the net result, making it the cooperative’s most important financial indicator. The financial year was concluded with a cooperative profit of EUR6.3m.

A subsequent payment of nearly EUR2.2m to the members will be proposed at the members’ council meeting in December. The eventual ‘payout ratio’ will be 98%.

These excellent results are based in using opportunities in a market that is developing well, in improved production results and good quality potatoes.

The higher payment for starch potatoes has contributed to the continued rising trend in the balance of cultivating starch potatoes and the company considers it a remarkable result for a year when the balance for many arable crops actually went down.

Chairman of the Board Bert Jansen: “During the past year Avebe has become more sustainable and profitable. This result shows that Avebe has the potential to grow and develop. Our focus continues to be on our strength – to achieve added value. We grow in turnover.”

Next year will be characterized by increasing the added value even further. In Groningen, a new innovation center is under construction where all Avebe’s innovative power will be brought together before the summer of 2018.

The new center, which will also have room for start-ups, will accommodate the employees of innovation, marketing and sales. They will investigate the possibilities of extracting new ingredients from potatoes.

In Gasselternijveen attention will be paid to scaling up production of high-grade proteins – a unique product with a growing demand across the globe.

At the beginning of November, Avebe announced its expansion in Dubai, with a new office. Chief Commercial Officer Alan Fielding: “The new sales office will allow us to respond more effectively to the growing demand for potato-based ingredients for texture and health and nutrition solutions for food. We have strengthened our worldwide technical and sales representation to provide customers with first line assistance and inform them about the use of our products. We are now even more able to develop strong and beneficial relationships with our customers in the regions. Our direct presence enables us to respond to regional markets and translate the latest trends into value-added business opportunities.”