The Dairygold AGM that was held on Tuesday was “engaging and constructive”, the co-op has said.
Chair Pat Clancy referred to the increased operating profits in 2024, up €13.2m to €37.1m, to the 200 people who attended. He highlighted the cost optimisation programme in place, with half of the €14m savings targeted to be realised this year.
A number of the concerned Dairygold suppliers, who emerged in January as a pressure group, spoke from the floor. Inevitably, milk price was an issue raised. Board selection is another issue of concern.
“The people who run the co-op (the board) need to be selected by suppliers and shareholders who own the co-op,” Nigel Sweetnam, a member of the action group’s committee, said.
Currently, the co-op’s 60-strong council selects the board members. The stipulation is that committee members must trade with the co-op, buying 25% of their inputs on entry, rising to 75% after two years.
“This excludes farmers who are members of purchasing groups,” said Sweetnam.
“Loyalty to the co-op from its members and suppliers must be earned, not forced.” A Dairygold spokesman said these rules are under constant review and have been amended previously.
The issue of what to do with the “windfall” from the recent sale of property assets in Cork and Dublin raised and debated.
“This money should be used to pay down debt and pay a leading milk price,” said Sweetnam.
Dairygold highlighted that the board will consider all options, including investment and debt repayment for the imminent revenue from the sales.
National IFA poultry chair Nigel Sweetnam speaking to the farmers that brought up to 100 tractors to the early morning IFA ENOUGH IS ENOUGH campaign at Cork Airport, before heading to Cork County Hall to protest outside this month's Cork County Council meeting to highlight farmer frustration over EU and Government policy ahead of the upcoming local elections. \ Donal O' Leary
The Dairygold AGM that was held on Tuesday was “engaging and constructive”, the co-op has said.
Chair Pat Clancy referred to the increased operating profits in 2024, up €13.2m to €37.1m, to the 200 people who attended. He highlighted the cost optimisation programme in place, with half of the €14m savings targeted to be realised this year.
A number of the concerned Dairygold suppliers, who emerged in January as a pressure group, spoke from the floor. Inevitably, milk price was an issue raised. Board selection is another issue of concern.
“The people who run the co-op (the board) need to be selected by suppliers and shareholders who own the co-op,” Nigel Sweetnam, a member of the action group’s committee, said.
Currently, the co-op’s 60-strong council selects the board members. The stipulation is that committee members must trade with the co-op, buying 25% of their inputs on entry, rising to 75% after two years.
“This excludes farmers who are members of purchasing groups,” said Sweetnam.
“Loyalty to the co-op from its members and suppliers must be earned, not forced.” A Dairygold spokesman said these rules are under constant review and have been amended previously.
The issue of what to do with the “windfall” from the recent sale of property assets in Cork and Dublin raised and debated.
“This money should be used to pay down debt and pay a leading milk price,” said Sweetnam.
Dairygold highlighted that the board will consider all options, including investment and debt repayment for the imminent revenue from the sales.
National IFA poultry chair Nigel Sweetnam speaking to the farmers that brought up to 100 tractors to the early morning IFA ENOUGH IS ENOUGH campaign at Cork Airport, before heading to Cork County Hall to protest outside this month's Cork County Council meeting to highlight farmer frustration over EU and Government policy ahead of the upcoming local elections. \ Donal O' Leary
This is a subscriber-only article
SHARING OPTIONS: