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Riceland Foods

From Wikipedia, the free encyclopedia
Riceland Foods, Inc.
Company typeAgricultural & Manufacturing Cooperative
IndustryAgriculture/Manufacturing/Grain Sales
Founded1921 (1921)
Headquarters
Stuttgart, Arkansas
,
United States
Area served
global
Key people
Kevin McGilton (CEO) Roger Pohlner (Chairman)
ProductsRice, soy, and grain byproducts
Revenue$1.3 billion (2022)
Members6,000 farmer members
Websitericeland.com

Riceland Foods, Inc. is the largest farmer-owned rice and soybean marketing cooperative in the world with headquarters in Stuttgart, Arkansas, United States. The cooperative was founded in 1921 and has become a major rice and grain miller and a global marketer of the same. Approximately 5000 farmers own or deliver to the cooperative which operates six rice mills including the world's largest in Jonesboro, Arkansas. The cooperatives principal purpose is to utilize efficiencies of scale to generate increased farmer returns through receiving, storing, milling, packaging, and marketing rice, vegetable oil, meal and byproducts to markets around the globe.[1]

Riceland is a soybean and soy oil processor in the Mississippi Delta region of Arkansas where milling, pressing, packaging and distribution occurs. It refines soybean and other vegetable oils for food service and food manufacturing companies. By-products that are commercially marketed include organic gardening amenities like PBH (pasteurized rice hulls), and rice hull ash which are bio-degradable bio-renewable soil supplement replacements for perlite and vermiculite.[2]

Cooperative Board of Directors

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Riceland Foods is led by a Board of Directors elected by the Farmer member owners that deliver grain to the cooperative.[3] In Dec. 9th 2021, they announced an intended $13.2 million expansion to the plan. As of 2021, they employed approximately 1,500 workers companywide.[4]

Leadership

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Kevin McGilton was announced as the CEO of Riceland Foods, Inc. on December 8th, 2023.[5] At the time of McGilton's appointment he had been at Riceland Foods for 20 years. Prior to the appointment he served as VP of Government Affairs & Chief of Staff after a long period as VP of Export Sales. Prior to joining Riceland, he worked for USA Rice in Washington, D.C.

Sales as of fiscal year end July 31

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Year Revenue Reference
2007 $947 M [6]
2008 $1.23 B [7]
2009 $1.30 B [8]
2010 $1.10 B [9]
2011 $1.10 B [10]
2012 $1.15 B [11]
2013 $1.32 B [12][13]
2014 $1.16 B [14][15]
2015 $1.12 B [16]
2016 $1.01 B [17]
2017 $941 M
2018 $955 M
2019 $980 M
2020 $868 M
2021 $995 M [18]
2022 $1.21 B [19][20]
2023 $980 M
2024

Products and Services

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Riceland has been responsible for up to one-third (or more) of the total U.S. rice crop.[21] Riceland also sells rice, oil & other grain products to food service distributors, wholesalers, export markets, and in many grocery stores.

Rice milling Riceland operates five rice mills and two parboiling plants with two major rice milling centers in Stuttgart and Jonesboro, Arkansas.[22]

Grain storage Riceland has been listed as a Top 10 grain storage company in the United States.[23]

Food service products Riceland supplies rice and oil products to the food service industry.[24]

Edible oils Riceland's edible oil refinery at Stuttgart refines crude oils extracted from soybeans and rice bran into oil and shortening products. Corn, canola, peanut and cottonseed oils are also refined and blended.[25]

References

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  1. ^ "Encyclopedia of Arkansas". Encyclopedia of Arkansas. Retrieved 2023-09-26.
  2. ^ PBH Nature's Amendment
  3. ^ Leader, Stuttgart Daily (2022-05-12). "Riceland members select John Hamilton for board of directors". Stuttgart Daily Leader. Retrieved 2023-09-26.
  4. ^ "Riceland Foods Investing $13M to Expand Arkansas Rice Plants". Food Manufacturing. 2021-12-10. Retrieved 2023-09-26.
  5. ^ "Riceland Foods announces leadership transition". talkbusiness.net. Retrieved 2023-12-10.
  6. ^ Income, revenue climb at Riceland Foods. EBSCO Host Connection,January 2008
  7. ^ Rice Milling..
  8. ^ Riceland Foods Sales At $1.3B For Fiscal Year. Associated Press, 25 Nov. 2009,
  9. ^ Arkansas Business
  10. ^ Riceland Reports $1.1 Billion in Sales. Arkansas Business,18 Nov. 2011.
  11. ^ Arkansas Agriculture Interests Strengthen Revenues. Arkansas Business, 20 May 2013.
  12. ^ Riceland reports best year in history at annual meeting Stuttgart Daily Leader. 22 Nov 2013
  13. ^ Stuttgart Rice Mills Make Top 100 List of U.S. Cooperatives, October 8, 2015 Talk Business & Politics, Oct 8, 2015.
  14. ^ Riceland sales total $1 billion-plus for 7th consecutive year Stuttgart Daily Leader. 25 Nov 2014
  15. ^ Stuttgart Rice Mills Make Top 100 List of U.S. Cooperatives, October 8, 2015 Talk Business & Politics, Oct 8, 2015.
  16. ^ Riceland reports $1B in Sales for 8th year in a row Stuttgart Daily Leader, Nov 20, 2015.
  17. ^ Riceland reports $1B in Sales for 9th year in a row Stuttgart Daily Leader, Nov 7, 2016.
  18. ^ "Riceland Foods Revenue Hits $1.2B". Arkansas Business. Retrieved 19 May 2023.
  19. ^ "Riceland Foods Reports $1.2B in Revenue at Annual Meeting". Arkansas Money & Politics. Retrieved 19 May 2023.
  20. ^ "Riceland Foods reports $1.2 billion in revenues". Talk Business & Politics. Retrieved 19 May 2023.
  21. ^ "Community Profile: Ducks and Rice Are Staples in Stuttgart, Ark". www.stlouisfed.org. Retrieved 2023-09-26.
  22. ^ "Changing Landscapes: From "The ASU Story" to Modern A-State: City History". Changing Landscapes: From "The ASU Story" to Modern A-State. Retrieved 2022-11-30.
  23. ^ "Table 20. Largest U.S. Grain Storage Firms". www2.econ.iastate.edu. Retrieved 2022-11-30..
  24. ^ "Foodservice Rice". www.riceland.com. Retrieved 2022-11-30.
  25. ^ "Home". Rito Partnership. Retrieved 2023-09-26.
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