CONCENTRATIONS AND RELATED PARTIES

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

CONCENTRATIONS AND RELATED PARTIES

CONCENTRATIONS AND RELATED PARTIES

Significant customers.  For 2023, the Company had sales to one customer that accounted for approximately 11 percent of consolidated sales. For 2022 and 2021, the Company had no sales to an individual customer that accounted for more than 10 percent of consolidated sales.  During the years 2023, 2022, and 2021, the Company’s ten largest customers accounted for approximately 44 percent, 38 percent, and 36 percent of consolidated sales, respectively.

Significant suppliers. For 2023, the Company had purchases from two grain suppliers that approximated 20 percent of consolidated purchases. In addition, the Company’s ten largest suppliers, accounted for approximately 51 percent of consolidated purchases.

For 2022, the Company had purchases from two grain suppliers that approximated 23 percent of consolidated purchases. In addition, the Company’s ten largest suppliers accounted for approximately 49 percent of consolidated purchases.

For 2021, the Company had purchases from two grain suppliers that approximated 14 percent of consolidated purchases. In addition, the Company’s ten largest suppliers accounted for approximately 43 percent of consolidated purchases.

Related Parties. For the years ended December 31, 2023 and 2022, the Company purchased $41,520 and $37,274, respectively, of finished goods from LMX and bulk beverage alcohol from the other 50 percent owner of DGL. The Company holds 50 percent interest in DGL and Agricola, which is accounted for as equity method investments. See Note 1, Nature of Operations and Summary of Significant Accounting Policies.