Co-op confident casein market will recover

A downturn in casein markets was one of the main causes of a reduction in turnover by North Cork Co-op Creameries last year.

The Kanturk based Society also attributed a delayed response from the EU to increase product aids to reflect market conditions as the other principal reason.

Operating profits of 123,000 on a reduced turnover of 20.05 million was recorded by the Society, despite some of the most difficult trading conditions experienced by the dairy industry in recent years.

Seamus Walsh, chairman, told the Society’s annual general meeting it had turned in a good performance in the conditions.

He said the co-op remains confident the casein market will recover in the longer term and planned investment was undertaken to upgrade its casein plant.

Mr Walsh said a serious and prolonged decline in world dairy products together with bad weather conditions at home impacted severely on the farming community in 2002.

Their combined effect extended through the dairy industry, and is reflected by lower profitability.