Plummeting sales forces C-Dax to cease trading
Farmer-owned co-operative Ravensdown is winding down the operations of its agritech subsidiary C-Dax following a long decline in sales.
The report tracks the co-operative’s performance against its strategic objectives.
The co-operative has produced the annual integrated reports since the 2018/19 financial year.
Ravensdown chair Bruce Wills says the company successfully overcame a wide range of challenges to help farmers and growers.
“Farmers and growers are both our customers and shareholders. They sit at the heart of everything we do. For our customers we supply the right amount of farm nutrients, and the right products and solutions to optimise production, while mitigating the impacts of land use on the environment.”
Wills says Ravensdown ended the year in a healthy financial position.
“In the face of global pressure on supply, and domestic incentives for environmental improvement, we leveraged long held and nurtured relationships to minimise supply disruption, while continuing to invest in services that support farmers,” he says.
Ravensdown chief executive Garry Diack says the co-operative has a clear focus on its vision statement: ‘Smarter Farming for a better New Zealand’.
“For us ‘good’ is meeting and exceeding our progressive pursuit of this vision. We do that on a sustained, planned basis, sharing that pursuit with all those who invest in us, work with us, work for us, use our products and services, and all those in society who live with the impacts of our endeavours.
“As proud as we are of our excellent company, there is still much to do to ensure our good performance remains aligned with, and where we can, leads in the fast-changing environment in which our farmers and growers operate.”
