Weak euro delivers timely boost to dairy exports, says industry expert

The weakness of the euro has delivered a timely boost to Irish dairy exports, ensuring that co-ops are in a position to hold current milk prices, according to one industry expert.

IFA national dairy committee chairman Kevin Kiersey said that, since last April, the euro had weakened by over 11% against the US dollar, and by 6% against sterling.

He said this was equivalent to a return boost of 4c/l on SMP and butter exported onto the world market, and just over 2c/l for exporters of cheddar cheese to Britain.