Turnover of the 150-member co-op, main supplier of pigs to Grampian’s Broxburn plant near Edinburgh, fell from £29.7 million to £27.5 million last year and profits from £8031 to £2512, as a result of a £15,285 hike in bank interest.

The co-op continues to pay for pigs within two days of slaughter even although Grampian has extended payment terms to the co-op to 10 days.

Members also took a hit when the co-op agreed last year to a 5p/kg price cut for three months to help Grampian out of its financial problems.

“The price cut broke our pricing mechanism and took us back to weekly pricing,” chairman Sandy Howie told the co-op’s AGM. “It concerns me that we no longer have a structure for pricing.”

Source: Fwi.co.uk