ICMSA says to expect increase in milk prices

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ICMSA says to expect increase in milk prices

The Chairperson of Tipperary ICMSA has said that following the latest surge on international dairy markets, dairy farmers can expect a substantial rise in their milk price.

Seamus Troy said that August milk price must reflect the upward movements in all relevant indicators and markets.

Mr. Troy noted the following indicators of improved markets: The increase of 7.7 per cent in the latest Global Dairy Trade Auction (GDTA), the third in succession; The Dutch dairy quotations are now returning 34.9cpl for the butter/SMP mix before processing costs are deducted and VAT added while the equivalent WMP price is 32.5cpl; the latest international comparison of milk prices for July shows Irish processors at the bottom of the league yet again; Lactalis in France have agreed to pay an average of 27.5cpl for 2016 - effectively meaning that they will pay 29cpl for the remainder of the year.

The Thurles farmer said that it is also clear that the EU Voluntary Milk Reduction Scheme - which his Association had been alone in advocating - has had an undeniable and immediate effect in raising prices and sentiments.