Riceland Foods Revenue Hits $1.2B

Riceland Foods Revenue Hits $1.2B

Riceland Foods Inc. of Stuttgart reported fiscal 2022 revenue of $1.2 billion, up 20% from fiscal 2021.

Executives for the farmer-owned cooperative reported financial results to members at its annual membership meeting Thursday at the Grand Prairie Center in Stuttgart.

The co-op previously posted fiscal 2021 revenue of $995.35 million. That figure, up 14% from fiscal 2020, put Riceland at No. 14 on Arkansas Business' latest list of the state's largest private companies by revenue.

During Thursday's meeting, Sandra Morgan, Riceland's vice president and CFO, reported $710 million in distributions to members.

Morgan said the co-op's long grain seasonal pool paid $6.26 per bushel when adjust for freight, storage and interest — a 14-cent premium to the U.S. Department of Agriculture's season average. 

For soybeans, the seasonal pool paid out $15.84 per bushel, a $2.54 premium, she said.