AF Bio mass

[Exfarmer]

WTF?

 

[T C]

Sounds like £ 1million loan from AF will not be fully repaid.

 

[robbie]

Went pop with a bang at a million quid!!!!!

Bugger me there's been some companies involved with so called "green energy" go tits up over the last 10 years.

 

[Suffolk Serf]

Went pop with a bang at a million quid!!!!!

Bugger me there's been some companies involved with so called "green energy" go tits up over the last 10 years.

But the only creditor is AF itself I think.

 

[Exfarmer]

But the only creditor is AF itself I think.

AF aka Anglia Farmers, the clue is in the name

 

[db9go]

Administrators have been appointed at AF Biomass, a wholly owned subsidiary of the farmer-owned co-operative the AF Group.
AF Biomass, which operates across the whole of England, are straw merchants sourcing straw for the energy, food and farming sectors.
It provides straw for animal feed, animal bedding, straw-fired power stations and for use by vegetable growers.
A statement released to members said AF Biomass had 'no realistic prospect' of being able to meet its contractual obligations to supply straw to the power stati
It added that the market had 'changed dramatically' since the company was established, in 2013.
"In these circumstances, the directors have been advised that AF Biomass is insolvent and cannot continue to trade," the statement said.

"It has therefore been decided to appoint administrators to oversee the administration of AF Biomass Ltd."
It added: "An inter company debt of £1m owed by AF Biomass to AF Group will not be fully recovered by the administrator.
"However, AF members who supplied straw in 2021 have been paid."

 

[Exfarmer]

So I guess they had contracted to supply straw, they had not bought or had committed?

 

[Suffolk Serf]

I think that AF Biomass had a contract to supply the power station at a fixed price long term but the price that they had to buy ex farm at went up a long way of course. So big losses.

 

[Suffolk Serf]

Further to that, AF Biomass suppliers that were contracted to them didn’t supply as better prices could be found elsewhere, presumably by selling direct to the power station.

 

[Suffolk Serf]

It's a shame that it's not the power station itself that's gone pop (IMHO).

 

[robbie]

It's a shame that it's not the power station itself that's gone pop (IMHO).

With the shear amount of pigs and other livestock around here it seems bloody stupid to put a straw power station right in the middle of it all at snetterton.

 

[spin cycle]

It's a shame that it's not the power station itself that's gone pop (IMHO).

With the shear amount of pigs and other livestock around here it seems bloody stupid to put a straw power station right in the middle of it all at snetterton.

trouble is it's all the wealthy pig lads hoovering it up...none for us poor sheep folk

 

[robbie]

There's plenty to go around aslong as the snetterton isn't burning a Heston a minute.

 

[nick...]

With the shear amount of pigs and other livestock around here it seems bloody stupid to put a straw power station right in the middle of it all at snetterton.

I agree.got one neighbor buying every bit of straw tgey can to supply power stations and neighbor the other end of farm having a massive job to get straw fir his pigs and cattle and he has been using hay for bedding as he has no straw.no pigs currently on his farm as he has no straw or hay.he will have my straw again.I’ve no sympathy for AF as I know in the past they have paid too much for straw which is good for the farmers but obviously not good for them.
nick…

 

[yellow belly]

Af s risk management must be called into question
long term contracts in any weather related commodity are financially dangerous where you cannot lay off /limit the risk the risk

 

[quattro]

How do they afford to pay the stupid money for straw from north of Scotland and a lot of it is shite they’ve been taking down
you guys must make a fortune for straw on their doorstep

 

[Derrick Hughes]

So I guess they had contracted to supply straw, they had not bought or had committed?

I sold loads for straw I was loading at £55 last July, by August the price was hitting £100 if you could find anyone that would load , I covered most of my back orders and took the loss , commited don't really apply in the straw trade unless it's already payed for and even then you can't load straw that's not there if the farmer turns around and says he's chopping it due to the dreadful harvest weather

 

[sjt01]

I am glad the recent management of AF has curtailed the previous empire building attitude. The same disastrous empire building was also going on at Easton College.

 

[7800]

it looks like the AF buying group is going to lose out with the £1M defaulted loan to af biomass,
watch the subscriptions and fees go up to cover the losses !

 

[Exfarmer]

it looks like the AF buying group is going to lose out with the £1M defaulted loan to af biomass,
watch the subscriptions and fees go up to cover the losses !

They are something like 3 X times the price they were ten years ago!