Dairygold Co-op’s 1.75c/l boost in 2015
The extended credit is designed to help farmers better manage cash flow in the challenging circumstances of 2016.
All feed and fertiliser purchases in the January to April period will qualify for interest-free extended credit, with payment in equal amounts over the June to September period.
The loyalty reward is an annual cash or share bonus for the level of trade with the Society in eligible purchases of feed, fertiliser, farm requisites, and hard goods.
Cash bonuses will not be paid unless the calculated bonus reaches at least €20 in the year.
Society members will also receive bonus shares in relation to value of eligible purchases, plus kilograms of milk solids (protein and butter fat) supplied each year.
Announcing the incentives, Dairygold Co-op Chief Executive Jim Woulfe asked members for their full support for the agri-trading division in 2016.
He said, “The greater the support for Dairygold Agribusiness from customers and members, the lower the unit cost of our feed, fertiliser and other inputs becomes, which can then be passed on to our customers in the form of lower prices.
"Such support will also strengthen the overall business, which again helps support stronger milk and grain prices. Such is the nature of the co-operative business.”
He revealed that Dairygold Co-op supported milk prices in 2015 with more than €20m, equating to an extra 1.75c per litre on all milk supplied during 2015.
“The most successful co-operative relationships are those of mutual benefit where the business offers members value in return for their support.
"Dairygold operates for the benefit of our members, seeking to underpin and support the local rural farming economy.
"In this way, we offer an alternative to the traditional business model in terms of user ownership and a fairer distribution of profits and mutual support,” said Mr Woulfe.
