Farmland Earnings Show Continued Improvement

Earnings Through Second Quarter Significantly Ahead of Year Prior



Apr 16, 2001, 01:00 ET from Farmland Industries, Inc.

    KANSAS CITY, Mo., April 16 /PRNewswire/ -- Farmland Industries today
 announced that its financial results through the second quarter of fiscal 2001
 (Sept. 1, 2000 through Feb. 28, 2001), continue to show significant
 improvement.
     The cooperative's pre-tax earnings for the first six months of fiscal 2001
 were $6.6 million, an improvement of $66.8 million from the prior year.  For
 the second quarter, pre-tax earnings were $24.9 million ahead of last year.
     Farmland President and CEO Bob Honse said, "During these difficult
 economic times in agriculture, our continued focus on profitability rather
 than growth has allowed us to significantly increase year-to-date earnings
 compared to the first six months of fiscal 2000."
     Increased earnings in the company's Petroleum and Crop Production business
 segments and significant reductions in selling, general and administrative
 expenses drove the improvement.  Earnings increased in the company's Petroleum
 segment primarily due to increased refining and propane margins.  Improved
 operating margins in the Crop Production segment were due primarily to
 management of natural gas positions and the start-up of the Coffeyville, Kan.,
 nitrogen fertilizer plant, which uses petroleum coke rather than natural gas
 as a feedstock in the production of ammonia.
     Farmland Industries, Inc., Kansas City, Mo., ( www.farmland.com ) is a
 diversified farmer-owned cooperative focused on meeting the needs of its local
 cooperative- and farmer-owners.  Farmland and its joint venture partners
 supply local cooperatives with agricultural inputs, such as crop nutrients,
 crop protection products, petroleum products and animal feeds.  As part of its
 farm-to-table mission, Farmland adds value to its farmer-owners' grain and
 livestock by processing and marketing high-quality grain, pork, beef and
 catfish products throughout the United States and in more than 60 countries.
 
 

SOURCE Farmland Industries, Inc.
    KANSAS CITY, Mo., April 16 /PRNewswire/ -- Farmland Industries today
 announced that its financial results through the second quarter of fiscal 2001
 (Sept. 1, 2000 through Feb. 28, 2001), continue to show significant
 improvement.
     The cooperative's pre-tax earnings for the first six months of fiscal 2001
 were $6.6 million, an improvement of $66.8 million from the prior year.  For
 the second quarter, pre-tax earnings were $24.9 million ahead of last year.
     Farmland President and CEO Bob Honse said, "During these difficult
 economic times in agriculture, our continued focus on profitability rather
 than growth has allowed us to significantly increase year-to-date earnings
 compared to the first six months of fiscal 2000."
     Increased earnings in the company's Petroleum and Crop Production business
 segments and significant reductions in selling, general and administrative
 expenses drove the improvement.  Earnings increased in the company's Petroleum
 segment primarily due to increased refining and propane margins.  Improved
 operating margins in the Crop Production segment were due primarily to
 management of natural gas positions and the start-up of the Coffeyville, Kan.,
 nitrogen fertilizer plant, which uses petroleum coke rather than natural gas
 as a feedstock in the production of ammonia.
     Farmland Industries, Inc., Kansas City, Mo., ( www.farmland.com ) is a
 diversified farmer-owned cooperative focused on meeting the needs of its local
 cooperative- and farmer-owners.  Farmland and its joint venture partners
 supply local cooperatives with agricultural inputs, such as crop nutrients,
 crop protection products, petroleum products and animal feeds.  As part of its
 farm-to-table mission, Farmland adds value to its farmer-owners' grain and
 livestock by processing and marketing high-quality grain, pork, beef and
 catfish products throughout the United States and in more than 60 countries.
 
 SOURCE  Farmland Industries, Inc.