We don’t settle for second best

You know what they say: farmers only get a break when it rains or when the job is done. Speaking from experience, I can’t say I disagree.

As I write these lines in early October, I’m finally getting some rest after spending a few nice days before the rains finishing up the last big jobs in the fields, washing the machinery, tidying up and getting ready for the next planting season. Time sure flies!

But time doesn’t necessarily erase everything we’ve endured over the past year. I’m thinking of inflation, interest rates, labour shortages, rising production costs, debt and climate change. No wonder we’re running out of steam!

Not so long ago, low interest rates allowed us to grow our businesses at full speed. But the pendulum has swung back. Now, interest rates are eating into our profits. The resulting increase in debt service costs for our farms and cooperatives are slowing down construction and expansion projects. 

Debt service is often a major balance sheet item for our businesses, cooperatives, farms and Sollio. This trend is not slowing down, and rising interest rates have a direct impact on the bottom line.

So we repair, renovate, patch and consolidate as best we can. Residential construction projects are not being spared, either. Uncertainty is everywhere, and people are holding back. That’s what we’re seeing on the horizon for 2024. It’s a sign of the times.

Now’s the time to review our spending and change the way we do things to optimize our businesses and cooperatives and ensure their long-term success. We know how to do it.

We’ve faced tough times before.

We need to find ways to create wealth and make our farms and cooperatives profitable. For the time being, it’s not going to be through lower interest rates. We’re going to have to keep rethinking everything we do. We’re pursuing our recovery plan by focusing on efficiency and performance.

At Sollio, we don’t settle for second best. Our cooperatives are how we make that happen through a collective effort. Our governance structure and sense of belonging ensure that the interests of our members are represented and that bold, necessary decisions are being made. Our people are skilled, trained and dedicated. We have a strong, organized network that is firmly established in every region. Through our commitment and participation, we’ll achieve our goals and put forward promising projects for the future of our network. Our very first Ambassadors’ Forum, held recently to ensure close ties with our members, is an impressive example of this.

We’ve got what it takes to be the best, so that’s what we’re going to be.