AgState is reporting a significant earnings increase for the recently ended fiscal year.
According to a news release, AgState’s total net income after-tax for 2023 is 31.3 million dollars, up 45 percent from last year. Total cash paid to members will approach nine million dollars between the five million revolvement paid in September, and the cash patronage to be paid in December.
AgState experienced a performance boost in a number of key categories despite drought conditions in much of the territory. The AgState Board has approved 14 million dollars to be reinvested into company facilities and equipment in fiscal year 2024.
More information will be shared at AgState’s annual meeting next month in Cherokee. Member invitations are in the process of being mailed.
AgState is a locally owned and controlled cooperative with 35 locations in northwest Iowa. They provide grain, agronomy, feed, and energy products and services to local producers.