National Cooperative Bank released its annual list of the 100 cooperatives in the country, and nearly half the listings and the four largest co-ops by revenue are agriculture enterprises.
The list has 47 ag co-ops and they accounted for 60% of total co-op revenue in 2022, or $187.6 billion.
The top revenue producer in agriculture and overall is CHS Inc., based in Grove Heights, Minnesota. CHS maintained its first-place spot from 2021 with a reported $47.8 billion in revenue in 2022. Dairy Farmers of America, headquartered in Kansas City, Kansas, was the next largest cooperative at $24.5 billion in revenue.
Two other agricultural cooperatives rounded out the list's top four: Land O'Lakes ($19.2 billion in 2022 revenue) and Illinois-based Growmark ($14.5 billion). The only other cooperative in the list's top five was Associated Wholesale Grocers, a Kansas City, Kansas, outfit with $12.2 billion in revenue in 2022.
It’s easy to be “in the know” about what’s happening in Washington, D.C. Sign up for a FREE month of Agri-Pulse news! Simply click here.
Ag lender CoBank took the top spot for assets on the books in 2022 with nearly $204 billion; Minnesota-based AgriBank was the next highest at about $179.3 billion in assets.
For the 100 co-ops noted on the list, overall revenue increased 25% over 2021, NCB reported, with $319 in business conducted in 2022. Those co-ops have more than $1 trillion in assets.
The organization releases the top 100 every October in observance of National Co-Op Month. The full list of cooperative businesses can be found on NCB’s website.
For more news, go to Agri-Pulse.com.
