Milk quota traders must be ‘realistic’

PARTICIPANTS in the new milk quota trading scheme were urged yesterday to be realistic in their assessments of what they are prepared to pay or accept for quota.

Food minister Brendan Smith, said the quota exchange will only arrive at a market clearing price where buyers’ and sellers’ expectations on price converge.

He urged potential participants to submit applications in good time, fully completed, and, in the case of buyers, accompanied by a cheque to the full value of the bid. The closing date for participation in the first scheme is November 24.