Alliance Group, New Zealand‘s only 100 per cent farmer-owned major red meat co-operative, has rewarded shareholders with a $4.5 million loyalty payment distribution.
The quarterly payments have been made to Alliance’s Platinum and Gold shareholders who supply 100 per cent of their livestock to the company.
Farmers are paid an additional 10 cents per kilogram for each lamb, six cents/kg for a sheep, 8.5 cents/kg for cattle and 10 cents/kg for deer. The payments cover the period January-March 2020.
By committing all their livestock to the co-operative, Platinum and Gold shareholders also receive a range of other benefits including priority processing and free store stock facilitation.
David Surveyor, Alliance Group chief executive, said the co-operative is committed to recognizing and rewarding consistent and committed supply.
“Our loyal shareholders have benefited from priority access to livestock processing at a time when the sector’s capacity has been affected by the COVID-19 operating restrictions.
“As a co-operative, the interests of our farmers are at the heart of every decision we make. Every dollar we make is either delivered back to farmers or re-invested into the co-operative so we can maximize our performance and lift returns to the owners of Alliance Group, our farmer shareholders.
“With New Zealand facing tough times ahead, our farmers and the agriculture sector are helping lead the nation out of the COVID-19 crisis and underpinning the recovery.”