6 January 2012 No Comments by The Northern Standard

Town of Monaghan Co-op Chief Executive Vincent Gilhawley has expressed the view that the outlook for the dairying sector remains positive in 2012 despite the problems confronting the global economy and the prevailing climate of financial uncertainty.
Writing in the December edition of the Co-op’s Farm News publication, Mr Gilhawley predicted that global demand for dairy products would continue to grow – and said that Ireland was in a strong position to capitalise on this heightened demand.
The Chief Executive, referring to the “almost daily economic crisis which is dominating news headlines right across the globe”, gave the following analysis of the prevailing situation:
“Serious concerns are being raised about the survival of the euro. Currency markets are volatile. Questions are being raised about the fragility of the international banking systems.
“Is the global economy heading back into recession? Recessions are bad news for everyone as economic growth slows down. Nervousness is compounded by the fact that there is seemingly a political paralysis with regard to addressing this serious financial crisis.”
The Town of Monaghan Chief thought it was impossible to say what impact all of this would have on the dairy industry in 2012.
“It is reasonable to conclude, however, that this financial uncertainty points to greater risk in dairy commodity markets. Yet another unknown to contribute to the many factors already influencing a volatile market.
“On the dairy market front, I think we would all settle for a repeat of 2011 in 2012.
Full report in The Northern Standard

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