It was the co-op’s annual general meeting and the Country Women’s Association hall on High St, Wauchope, was the venue.

The bulk of discontent came from farmers, some who came from as far as Taree, upset about the return they are receiving for their milk.

Market to market farm gate pricing was introduced on July 1 to stem losses from the company’s cheese factory.

In 2008-09 the factory lost $4.1 million but since the changes losses have stopped.

The market-to-market pricing pays farmers only what can be generated by the milk.

The co-op, as a whole, made a total loss of more than $1.9 million for the year in its overall business activities.

This includes three IGA supermarkets, two bottle shops, a department store, an agricultural supplies store and a petrol station.

Chief executive officer Phillip Bryant struggled to communicate with the group and was often drowned out by shouting shareholders.

“We understand there are concerns among the farmers but we have put strategies in place to move forward,” Mr Bryant said.

“We could not have anticipated the effect the global economic crash would have on the demand for our products.”

The decision was taken earlier in the year to agree to join with food marketing and distribution firm, Total Foodtec Pty Ltd, as a way to market the co-op’s premium dairy products in New Zealand and other overseas countries.

The co-operative has investigated the possibility of closing its cheese factory but Mr Bryant assured stakeholders the core values of the business were tied in with the factory.

“The co-op’s core values are about community and the community taking ownership in the business activities where they live,” he said.

“At the moment we believe we have an opportunity to make the factory a success.”

One farmer in attendance at the meeting attempted to have a vote of no confidence in Mr Bryant.

He was shut down by chairman Peter Wallace who said it was not on the agenda for discussion.