USDA announced that agriculture cooperatives set a new sales record in 2013 with total business volume of more than $246 billion. This surpasses the previous record by $8 billion set in 2012.
Ag co-ops also set a record for net income (before taxes) of $6.2 billion. The previous record was $6.1 billion set in 2012. The number of full-time co-op employees reached 136,000.
Secretary of Agriculture Tom Vilsack said, “These sales and net income records for ag coopertives, combined with strong gains in employees for 2013, underscore the strength and productivity of the nation’s farmer- and rancher-owned cooperatives. These co-ops play a vital and growing role in the nation’s economy.”
October is National Cooperative Month.