Dairy market prospects continue to improve

THE market outlook for dairy products this year is relatively positive after a slow start, Food Minister Brendan Smith declared when he presented Glanbia with the NDC Read Cup for producing the best butter in Ireland at its Ballyragget plant in Co Kilkenny.

He said the price for skim milk powder remains high, largely due to the restricted supply of EU product, and EU cheese exports continue to perform very well.

“Most commentators expect continued stability in butter prices. However, the relatively high stocks of intervention butter in the EU will limit any price increase,” he said.

Mr Smith warned however that the price of oil and the value of the US dollar/euro exchange rates will continue to be important factors in determining the effectiveness of Irish and EU traders to compete on the global market.

Noting that it was the second time in three years that Glanbia had won the Read Cup, he paid tribute to the dairy farmers who supply the group with top quality milk, the management, butter-making staff and all concerned with the success.

Glanbia chairman Michael Walsh said consistency of quality is essential in this time of innovation.

Two of the award-winning Glanbia products marketed under the Avonmore brand are Avonmore spreadable butter and Avonmore unsalted butter.