IFA: Co-ops must assess own internal savings

The IFA has called upon each co-op to assess its own internal savings before imposing any further cuts to farm gate milk prices.

The statement comes as Glanbia announces its intention to pay its member suppliers 26.5c per litre, a cut of 1c per litre including Vat, for July milk. Ireland’s latest official figures put the average price per litre paid to farmers at 28c, down from 34c in January and a high of 43c last year.

IFA dairy chairman Sean O’Leary said: “We are asking co-op chairmen, boards, and management teams to undertake an internal efficiency review of all business processes from milk collection to marketing to identify any savings that can be made.