The $10 million loss posted by Organic Valley during 2017 is the cooperatives biggest financial loss in 20 years. Leaders say increased milk inventories, falling prices and a slowdown in sales growth are to blame for the losses. Gross sales were up four percent to more than $1.1 billion for the year.
The Wisconsin-based company is now the top national brand for organic, 100% grass-fed dairy and meat. Organic Valley leaders expressed optimism last week in announcing the financial figures during it’s annual meeting.
CEO George Siemon notes that the farming industry today is similar to the conditions seen when the cooperative started 30 years ago. Meanwhile, Organic Valley leaders say they plan to be the largest food company in the world powered only by renewable energy no later than next year.
If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail email@example.com