The managing director of the Irish Dairy Board, Dr Noel Cawley has defended the company's use of EU intervention, saying those who criticised its use were "cock-eyed". Dr Cawley, delivering his review of the year, said it was rather odd that someone like Dr Franz Fischler should be criticising its use.
"If it is there we will use it as a commercial outlet. Selling into intervention is a commercial decision, not a sign of inefficiency."
Earlier this week, the Minister for Agriculture and Food, Mr Walsh, had expressed concern that Ireland, producing 4.5 per cent of EU's dairy output, had 68,000 tonnes of butter and 54,000 tonnes of skim milk powder in intervention. This accounted for 30 per cent of the European total in terms of butter and 26 per cent in terms of SMP. Dr Cawley said that while audits for 2003 had not yet been finalised, profitability would be on a par with last year. "We had a lucky year in business terms compared with what has been happening on Irish farms where there is little chance of increased profits." The Board, he said, would be in a position to pay a bonus of €11 to €12 million to its co-operative sharehold members.