Irish Dairy Board turnover rises

DESPITE weak world markets, which led to a 9% drop in the price paid to farmers for their milk, the Irish Dairy Board announced yesterday that it achieved satisfactory financial results in 2002.

The IDB, a co-operative which exports Irish dairy products worldwide, predicted that improved world market demand, coupled with drought-induced output restraint from Australia, should lead to more favourable conditions later this year.

Managing director Dr Noel Cawley warned, however, that the substantial weakening of the US dollar and sterling means that any improvement in returns expressed in euro could be modest.