On-account price increases welcomed

THE Irish Dairy Board’s decision to increase its on-account prices for butter and skim milk powder as a result of strong market conditions has been welcomed by farm leaders.

The on-account prices will increase by €50 per tonne for butter and €100 per tonne for skimmed milk powder produced and sold to the IDB from February 12, with retrospective adjustments to January 1.

ICMSA president Jackie Cahill said all co-ops can therefore afford to increase the milk price paid to farmers. All the reductions over the last five years have been fully recovered.