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.

“There is no denying that market returns have been easing from the 2011 peak. However, at least some of this has been made up by the advantage for our exports from a weaker euro,” Mr Kiersey said.