Mole Valley Farmers issues loyalty bonus to farmer shareholders
© Mole Valley Farmers Agricultural supplier Mole Valley Farmers has returned £300,000 to its farmer shareholders through a loyalty bonus scheme launched last year.
The farmer-owned co-op has also provided discounts worth £1m through is points-based programme.
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Mole Valley Farmers has more than 9,000 farmer members that can earn points from feed, mineral and fertiliser purchases. About 40 of these shareholders have earned more than £1,000 in points.
Farmer shareholders are given voting rights at the business’s annual general meeting and receive a 3% discount on certain purchases.
The group had a turnover of £522m for the year ending 30 September 2021, and made a profit before tax of £4.4m.
Mole Valley Farmers’ chief executive officer, Jack Cordery, said he was delighted with the success of the loyalty bonus scheme in its first year, and how much it’s been able to give back to farmer shareholders.
“We believe co-operation and collaboration are the most powerful tools to combat price volatility, supply chain challenges and ongoing unpredictability in the market,” said Mr Cordery.