ICMSA optimistic of milk price rise as demand at auction improves

THE Irish Creamery Milk Suppliers Association has expressed renewed optimism on milk price prospects for the back end of this year.

It followed a recovery in Fonterra Co-op milk auction powder prices by on average 16.9% and by as much as 24.9% after slumping in previous months.

Fonterra, the world’s biggest dairy exporter, based in Auckland, New Zealand, accounts for about 40% of global trade in butter, milk powder and cheese, selling $12 billion (€9.3bn) of products a year in 140 countries.