Farmer-owned OSR specialist United Oilseeds has announced a 50 percent increase in pre-tax profits for the financial year to June 2012, which incorporates harvest 2011.

Group turnover has also increased by 56 percent from £148m in 2011 to £232m for year end June 2012. The record growth has been partly fuelled by a 23 percent increase in certified seed sales and a 31 percent growth in traded oilseed rape volumes.

The cooperative's managing director, Chris Baldwin commented on Tuesday, "These figures are very encouraging for the co-operative and its members. As a farmer owned co-operative, our core aim is to help make our members' businesses more profitable and I'm pleased to announce that we are making a redistribution of a trading surplus to members of £345,000 for 2012 - the highest profit redistribution to trading members that United Oilseeds has ever made. Over the last six years, United Oilseeds has paid a total of £2.2m back to its members."

Mr Baldwin continued, "Whilst 2011 saw a good harvest in terms of production tonnes and yield, weather conditions have made harvest 2012 far more challenging. Volatility has become a hallmark of the OSR market and this looks set to continue. Our three pools help growers reduce their exposure to some of this volatility and this year, we saw growers in our Harvest 2012 Pool achieve a price of £370 per tonne before quality bonuses for their crop.

"Our share of the certified seed market has grown, with our seed sales increasing by an impressive 23 percent. This is in part due to our strategy of securing a strong seed portfolio that gives growers access to the very best performing seed varieties."

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