Dairy Industry
Worst year for over decade
The Dairy Board said this afternoon that 2002 was the worst year for the industry for over a decade.
Returns for butter and skimmed milk powder were down by 7% due to the world downturn in the sector.
However, Dairy Board chairman Michael Cronin also said there is a major depression here at farm level.
The Dairy Board markets Irish produce on behalf of the industry to over a hundred countries worldwide using the Kerrygold label.
For many years the dairy sector here has been one of the most profitable sides of farming.
But 2002 was a difficult year for the industry internationally. Prices around the world were the worst in recent times for the first eight months. Demand was weak, EU production was higher than expected, and huge amounts of butter and skim milk powder had to be put into intervention storage.
Demand for cheese in the EU was hit because of a recovery in meat consumption.
The Board complain that rising insurance and other costs are hitting the industry and they say the EU should do more to help farmers.
