Glanbia vote opens door for better milk price

Farmer groups have unanimously welcomed the vote by Glanbia Co-op members to approve the Plc’s joint venture proposal, and have instantly called upon the board to now honour its promise of a stronger milk price for suppliers.

The 71% vote in favour of the proposal, which will effectively lead to the creation of Dairy Ingredients Ireland, will now see the co-op take effective ownership of their own milk processing, leaving Glanbia Plc to focus on its growth plans for its international cheese and nutritionals businesses.

ICMSA president, John Comer, said his association acknowledged and welcomed the decision. He said that having received the mandate they had sought, it was now wholly incumbent upon the board and management of the joint venture to deliver — “in full” — on the commitments they had made to their farmer-suppliers in terms of milk price and maximising the returns that would be delivered to the farmers. Mr Comer said that the assurances of the boards had been accepted in good faith and it was now a question of the boards delivering, and being seen to deliver, on the solemn assurances offered to and accepted by farmers.