Dairygold agree €7.5 bonus plan
Dairygold board has agreed a €7.5m bonus package for its 3,000 milk suppliers and customers for 2013.
The 2013 year-end bonuses comprise a 0.5c/l payment on all contracted 2013 milk supply, a €7/t rebate on all compound feed purchased and a €5/t rebate on all fertiliser purchased.
"Following a very successful year, the substantial bonuses are fully in line with the co-op's ethos," said Dairygold's chairman, Bertie O'Leary.
"The board's decision to award these substantial bonuses also recognises the great loyalty shown to the co-op in an expensive and challenging year for many of our farmer members, with significantly more farm inputs required, leading to record levels of feed purchased," Mr O'Leary added.
However, Dairygold sources said the bonus payments would be confined to those suppliers who have signed milk supply contracts.
The co-op has also insisted that it will retain proposed levies on all 'new milk' to be processed from 2015, even though Glanbia has decided to scrap plans for a 2c/l levy on all extra milk that comes on stream once quotas are abandoned.