The move by farmers in Glanbia Co-op to buy the Irish business of Glanbia plc reflects a growing trend for farmers to own more of the milk processing supply chain.

This month, 350 Wexford Milk producers will close their €9 million deal to take control of Wexford Creamery from the Dairy Crest company.

Now, farmers in Kilkenny, Waterford and as far north as Co Louth are seeking control of the dairy and agribusiness sections of Glanbia plc through their co-op, which has a 54.6 per cent stake in the company in a deal in the region of €343 million.

This is a major movement in Irish agriculture, which embraced the plc model for the last 30 years.

In recent times, in the dairy sector in particular, there has been a gritty relationship between dairy farmers and plc managements.

This intensified in the last 18 months when the cost of production fell below what was available to the dairy farmers from the world marketplace.

They feel the constraints being placed on plcs to deliver the best dividends to their stockholders prevented them from delivering a better milk or grain price to the farmer.

It is not a forgone conclusion that the 8,000 members of the co-operative will deliver the two-thirds majority at the two meetings required to complete the deal at the end of May.

There was a cautious statement from the Irish Farmers Association which advised members to “engage actively in the decision making process” and promised to liaise widely with its membership and hold meetings to discuss the pros and cons of the Co-op move.

“The outcome of these discussions will have long term implications, not just for Glanbia Co-op shareholders, but for the entire Irish dairy and grain sectors,” it concluded.