Cotribá reaches revenue of R$4,09 billion in 2022

The oldest agricultural cooperative operating in Brazil, Cotribá ended the 2022 financial year with record revenue of R$4,09 billion, surpassing the R$3,53 billion achieved in 2021.

With this result, the total distributed to associated producers is R$28,99 million, higher than the R$27,3 million of the previous year. The net operating result was R$62,68 million.

“It is with emotion that we announce these results, because even with the difficulties we have already faced, we never get discouraged and seek solutions every day”, stated the president of the cooperative, Celso Leomar Krug. The general meeting was held in Ibirubá, the cooperative’s headquarters.

The revenue achieved is due to the good 2022 harvest, mainly from the wheat crop, which is considered the best in more than 40 years, both in quality, profitability and good prices. Furthermore, 95% of the corn received was destined for export. The president said that this performance enabled producers to recover some of the frustrated summer harvest.

The receipt of grains was responsible for 66,84% of Cotribá's revenue, while agricultural inputs accounted for 16,85%, feed for 5,68%, seeds for 3,15% and milk for 2,59% , among other products and services. Among the main products last year, there was the receipt and purchase of 11,15 million bags of soybeans, 3,77 million bags of wheat, 30,11 million bags of rice and 1,89 million bags of corn.

Investments

With the results obtained, the cooperative increased the volume of investments, reaching R$ 261 million, an increase of 98% compared to R$ 131 million in 2021. The resources were mainly applied to expanding units and offices, investing in new feed factory and increasing storage capacity by around 660 thousand bags, totaling 13,5 million bags with new units in Santa Vitória do Palmar, Soledade and Barros Cassal.

Krug confirmed that the first phase of the new feed factory will be completed this year for the production of feed for dairy and beef cattle, pigs, poultry, horses, sheep and mineral supplements. The new unit is under construction in Ibirubá and will increase the cooperative's annual feed production capacity from 100 to 300 tons, based on an investment of R$100 million. Cotribá is already the largest producer of feed for dairy cattle in the State. The new factory will be fully automated and the unit will have robotic systems for bagging and shipping.