ICOS seeks rationalisation of co-ops

THE Irish Co-operative Organisation Society (ICOS) has pledged to be the catalyst this year to encourage co-ops to rationalise.

Delegates at its 114th annual general meeting of the co-op umbrella body in Portlaoise, Co Laois, yesterday were told the aim was to create a stronger dairy, livestock and agri-service sector. Pat McLoughlin, president, said this entrepreneurial approach will be competitive and provide value and opportunity to its members.ICOS noted in its annual report that 2008 was a very challenging year for co-ops and their members.

Agricultural product prices began high, but steadily fell throughout the year. The final quarter saw the global financial crisis begin to impact dramatically.