Dairygold Co-op processed record volumes of milk in 2020, in excess of 1.4bn litres.
Supplier surveys suggest the co-op is on track to process 1.6bn in 2025 and there are projections for 1.85bn litres in 2030.
These were just some of the numbers Dairygold members heard at the online member update on Tuesday night.
Despite the extra volumes processed, the Irish Farmers Journal understands chief executive Jim Woulfe hinted that when the auditors finally complete the 2020 financial numbers that co-op revenue would in fact be down slightly and profitability will also be down compared to 2019. However, bank debt would also be down significantly.
During the online webinar, Woulfe hinted that milk price for 2021 was positive and steady.
He estimated the cost of additional Brexit administration on the current Dairygold cheese business at 1c/l.
However, the Irish Farmers Journal also understands he suggested this was temporary and it would hopefully settle down in the coming weeks.
The extra costs are associated with extra storage, transport and paperwork required.
Mogeely development in High Court
During the question and answer session, shareholders heard updates on the Mogeely planning permission debacle and we understand one member asked if An Taisce was holding up final planning.
The Dairygold boss suggested that it was not An Taisce but that another company had lodged an objection to the EPA on the licence for the purified water outlet at Rathcourcey and that objection was now in the High Court.
Outlining the cost and time delays of development, he suggested it was five years since Dairygold had signed heads of terms with TINE (the Norwegian partners in Mogeely) and yet there were still five entities and five individual legal teams in the High Court sorting out the detail.
Over the last number of years, Dairygold has reduced its agribusiness stores down to 26 units and, as a result, the co-op has a number of sites that potentially have residential development opportunity.
During the member webinar, Woulfe outlined Dairygold has a site near Cloughduv (west of Cork city) with planning for 36 houses going to market soon, another site at Kilmurry, the old CMP site (Kinsale Road) is in advanced negotiations for a significant development with further value add development at Ballyclough and Mallow.
At the Dairygold update for on Tuesday night, members were able to log in on Zoom and watch the recorded proceedings followed by a “live” question and answer session.