Glanbia Criticised for ‘Disappointing’ Milk Price Cut13 June 2014
IRELAND – Glanbia’s decision to cut its May milk price by two cents per litre was ‘disappointing’, according to a dairy spokesperson at the Irish Farmers Association.
National Dairy Committee Chairman for the IFA, Sean O’Leary, said that Glanbia should have enough economies of scale and product range to withstand a price to support peak production.
He said the timing of the cut represented a ‘missed opportunity’.
Acknowledging the decrease in world dairy prices, Mr O’Leary said there had been profitability across other cooperatives in 2013.
“They have also received €13m worth of dividends and bonuses from the Irish Dairy Board in respect of 2013 trading,” said Mr O’leary. “EU average dairy returns throughout May exceeded 42c/l, which would have allowed co-ops to cover processing costs while holding current milk prices.”
TheCattleSite News Desk