Farmer ownership of assets on the line

DAIRYGOLD recently embarked on publicity campaign about restructuring its business. Some options were conspicuously absent, as were the dangers to farmers’ ownership of assets in the co-op.

Of 8,000 shareholders in 2004, only 5,000 were aware they were actual shareholders - or at least the larger ones. What is at stake is the farmers’ ownership of a considerable portion of the tangible co-op assets. Not valued since 1996, when €200m was cited as their value, today a figure of €2,000m would be more realistic.

The superstores and retail outlets have been upgraded and I believe the €40m spent on each of the new spreads and whey plants indicates increasing asset values ever before the property boom.