Co-op chief predicts milk prices to rise to 38c a litre in months ahead

Dairy farmers can expect creamery milk prices to stay at around 35c or 38c per litre for the rest of the year, says Arrabawan Co-op chief executive Conor Ryan.

The Nenagh-based creamery yesterday released its 2012 accounts, with pre-tax profits down markedly to €424,311 from around €6.18m the previous year. However, almost €5m of this drop is explained by a share disposal that inflated the 2011 figures.

Operating profit for 2012 was at €1.14m, down from €2m in 2011. The co-op’s turnover was up by around €120,000 to €185.2m. Shareholders’ funds amounted to €35.3m, which represented no change on 2011.