Farmers warned on loss of EU supports

A YEAR of steady progress was recorded by North Cork Co-op Creameries, but shareholders have been told that the dismantling of European Union support for manufacturing casein could have serious implications for the Society if markets decline.

The annual report of the Kanturk-based co-op, which had sales of almost €19.8 million, showed an operating profit of €418,000 last year, compared to €199,000 in 2003.

Chairman John Ahern said casein prices increased substantially due to increased world market demand and a decline in production in New Zealand.