Spanish agrifood cooperative and the world’s largest olive grower, Dcoop, said its turnover for 2016 exceeded EUR1bn (US$1.06bn) for the first time.

Dcoop, which told just-food it will release detailed results for 2016 later this year, said the figure “consolidates” its position as a leading agrifood cooperative in the country.

Dcoop, whose shareholders include around 75,000 farmers, said the increase in turnover was spread across the cooperative although its oils division “remained the backbone” of the group.

“Oil sales revenue in 2016 amounted to more than EUR691.4m, followed by table olives at nearly EUR100m – a section that has consolidated its position as second in terms of the total turnover of the group,” the cooperative said. 

“Oil experienced the greatest growth compared to 2015, with 8.3% more year-on-year revenue followed closely by the supply section, whose sales also rose by more than 8% to EUR78.3m,” Dcoop said.

Dcoop told just-food last year that it is considering launching a goat milk yogurt product. In October, the cooperative acquired a site in Antequera, in southern Spain, from rival Deoleo for EUR7m.