Mainebiz

W W W. M A I N E B I Z . B I Z 13 J U N E 2 , 2 0 2 5 F O C U S A G R I C U LT U R E / A Q UA C U LT U R E IT PAYS TO BE A CUSTOMER OWNER. This year, we paid $140 million in patronage dividends. Farm Credit East customer-owners received $131.6 million in cash patronage dividends based on 2024 earnings, but we didn't stop there. Thanks to outstanding financial results, we were able to distribute an additional one-time special patronage of $8.4 million to members. We're grateful to continue serving farm, fishing and forestry business owners like you . No other lender delivers more value than Farm Credit East. Loans & Leases Financial Record-Keeping Payroll Services Profitability Consulting Tax Preparation & Planning Appraisals Estate Planning Beginning Farmer Programs Crop Insurance im Neuger, a Cleveland native and Princeton graduate, worked as a print reporter and bureau chief in Germany and Belgium for Bloomberg, covering economics (the rise and near demise of the euro), politics (remember Helmut Kohl?) and war and peace (from the relative sanctity of the NATO pressroom). He enjoys riding horses and watching them race, and can name every Kentucky Derby winner since 1875. He and his wife Renee Cordes, deputy editor at Mainebiz, live with their cockatiel Kori in Cape Elizabeth. Some of Jim's work is on display at www.jimletpix.com. J L ike lobsters, oysters used to be so abundant that their main purpose was to provide protein for the common folk. From the early days of the European settlement of North America, oys- tering blossomed, with New York Harbor as the epicenter. Industrialization and urbanization put an end to that. By the early 20th century, the briny bivalves were fewer and farther between in the waters off the East Coast. It wasn't until the 1980s that oys- ters enjoyed a renaissance, this time as a gourmet item farmed by small-scale producers. Maine's aquaculturists got in on the act. State data show that in 1986, Maine growers hauled up 130,500 pounds of oysters; by 2024, that figure had risen 40-fold to 5.2 million pounds. Oysters fetched $14.9 million on the market in 2024, making them Maine's third-most-valuable underwater cash crop after lobsters and softshell clams, according to the state's Department of Marine Resources. e hardiness of the species and the purity of Maine's waterways — made even cleaner by the natural filtration effect of oyster cultivation — contribute to optimism among producers that the niche business will continue to thrive. C O N T I N U E D O N F O L L OW I N G PA G E »

• Cover