Note 17 - Related Party Transactions

12 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

1

7

.

Related Party Transactions

A small percentage (less than

1%

in fiscal

2020

and

2019

) 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

$2.3

million and

$2.4

million, pursuant to a raw vegetable grower contract in fiscal

2020

and

2019,

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, 2020

and

2019,

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

$0.3

million and

$0.3

 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.