A second farmer co-operative has announced a record financial result this week in a further sign of economic recovery and rising confidence in the agricultural sector.
Livestock breeding and genetics company LIC has reported net earnings of more than $17 million for the past financial year, 88% up on 2009-2010.
LIC will pay out 80% of its earnings - more than $13 million - as a dividend to farmer shareholders.
Fertiliser co-operative Ballance Agri-Nutrients has also announced a record rebate and dividend payout to its farmer shareholders after quadrupling its operating profit.