Note 16 - Related Party Transactions

12 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

16.

Related Party Transactions

 

A small percentage (less than

1%

in fiscal

2018,

2017

and

2016

) of vegetables supplied to the Company’s New York packaging plants are grown by a director of Seneca Foods Corporation, which supplied the Company approximately

$1.4

million,

$1.0

million, and

$1.0

million pursuant to a raw vegetable grower contract in fiscal

2018,

2017

and

2016,

respectively.  The Chairman of the Audit Committee reviewed the relationship and determined that the contract was negotiated at arm's length and on

no

more favorable terms than to other growers in the marketplace.

During the years ended

March 31, 2018,

2017

and

2016,

the Company made charitable contributions to a related party foundation in the amount of approximately

$0.4

million,

$1.3

million and

$2.3

million, respectively. The Foundation is a nonprofit entity that supports charitable activities by making grants to unrelated organizations or institutions. This Foundation is managed by current employees of the Company.