Dairygold cuts profits to help farmers after ‘challenging’ year

Michael Harte, Ann Fogarty and Sean O Brien, at the launch of the Dairygold Annual Report 2023

Margaret Donnelly

Dairygold cut back its profits last year to support its milk and grain prices for farmers, after a "challenging" year due to decreased Chinese demand and reduced consumer spending.

The Cork co-op recorded a turnover of €1.4bn, a decrease of €254m versus 2022, primarily reflecting the significant fall in market returns over the course of 2023, it said.