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Major Customers
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Major Customers

(7) Major Customers

In 2024, there were three customers that accounted for 14%, 13% and 11%, of the Company’s consolidated sales. In 2023, there were three customers that accounted for 15%, 14% and 8%, of the Company’s consolidated sales. In 2022, there were three customers that accounted for 18%, 13%, and 8% of the Company’s consolidated sales.

The Company primarily sells its products to distributors, buying cooperatives, other co-operative groups and, in certain territories, end users, and extends credit based on an evaluation of the customer’s financial condition. The Company had three significant customers who each accounted for approximately 5%, 3% and 3% of the Company’s receivables as of December 31, 2024. The Company had three significant customers who each accounted for approximately 6%, 5% and 3% of the Company’s receivables as of December 31, 2023. The Company has long-standing relationships with its customers and considers its credit risk associated with its domestic business for accounts receivable to be insignificant.

The Company’s receivables, excluding allowances for expected credit losses, by geography as of December 31, 2024 and 2023 are summarized as follows:

 

 

 

2024

 

 

2023

 

Domestic receivables

 

$

71,794

 

 

$

89,315

 

International receivables

 

 

107,139

 

 

 

108,761

 

Total receivables

 

$

178,933

 

 

$

198,076

 

International sales by territory based on customer location for 2024, 2023 and 2022 were as follows:

 

 

 

2024

 

 

2023

 

 

2022

 

South and Central America

 

$

118,159

 

 

$

117,727

 

 

$

124,525

 

Mexico

 

 

48,463

 

 

 

49,800

 

 

 

45,995

 

Asia

 

 

34,123

 

 

 

28,071

 

 

 

26,588

 

Australia & New Zealand

 

 

21,687

 

 

 

19,712

 

 

 

19,674

 

Canada

 

 

8,513

 

 

 

12,268

 

 

 

14,860

 

Africa

 

 

5,646

 

 

 

3,715

 

 

 

8,840

 

Europe

 

 

1,893

 

 

 

2,208

 

 

 

1,964

 

Middle East

 

 

739

 

 

 

1,354

 

 

 

1,836

 

Total international net sales

 

$

239,223

 

 

$

234,855

 

 

$

244,282