SAV board chairman, Dick Thompson, said shareholders had contributed $852,000 allowing the first joint venture, Southern Ag Grain (SAG) to progress, and exploration of further opportunities to begin.

Mr Thompson said SAV's board is researching other potential businesses and joint ventures, an exercise the board is hoping the shareholders will participate in.

"We are looking for shareholders who have ideas or suggestions for ways of business ideas which could value add to local production while making returns for SAV shareholders," he said.

The SAV board has a full day planning workshop organised for March and looks forward to hearing suggestions prior to the workshop.

"SAV is about retaining profit for our local producers and shareholders and creating new business opportunities which help southern NSW grow.

"As a large organisation with a strong shareholder base we have the power to explore and develop business opportunities, which is often difficult for individuals or small community groups."

To help kickstart SAV, it's predecessor the Lockhart Development Group, which was originally formed to investigate biodiesel proposals, received a grant of $34,453 from the NSW Department of Industry and Investment's Developing Regional Resources Program.

This grant, with funds matched through donations and contributions by the original steering committee, helped develop the SAV website, prospectus and logo.

Mr Thompson said SAV's first joint venture, the grain marketing company SAG, with the Emerald Group Australia, had a successful start with strong local support.

To date more than 560 contracts have been written by SAG for grain from southern NSW.

"Considering 2009 was a tough year yield wise, we are enthused by the volume of grain sales going through SAG and the widespread support it has received," Mr Thompson said.