News 182 views last update:6 Aug 2012

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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