Riceland Foods sales at $1.3B for fiscal year

AP News
Posted: Nov 25, 2009 4:16 PM

Stuttgart-based Riceland Foods Inc. says its sales for the fiscal year are up by 8 percent from the year before.

The farmer-owned cooperative had sales of $1.3 billion for the 12 months ending July 31.

Riceland President and CEO Danny Kennedy says that in the past three years, crop production has been less than in prior years. But he says grain prices have been higher in the past two years.

Kennedy says payments to farmers totaled $776 million for the fiscal year. That's 11 percent more than a year prior.