Co-ops urged to follow EU-wide dairy price rises

IFA president Joe Healy has urged Irish co-ops to follow the 5c per litre rise in EU dairy market recovery, equivalent to a farmgate milk price of around 26cpl.

Mr Healy said EU dairy commodity returns rose by 5cpl in the last three months to an early August level equivalent, after 5c/l processing costs, to a farmgate milk price of 25.38cpl +Vat, or 26.7cpl including Vat.

He called on those co-ops that had yet to decide on the July price, especially those at the bottom of the league, to first follow the Lakeland, Glanbia, and Arrabawn lead by increasing July prices, but also for all co-ops to budget for significant further milk price increases for August and beyond.

“Co-ops can be confident about increasing milk prices: The long-awaited dairy market recovery has really taken hold,” said Mr Healy.

“It reflects much slower growth or even decreased milk production in Europe, but also globally, and relatively healthy demand growth despite the Russian ban and lower oil revenues.

“NZ business bank ASB Markets have predicted this week a 12% to 15% increase in this afternoon’s global dairy trade price for whole milk powder, based on the evolution of NZX futures in the last few days.”


To instantly power up your look, veer towards the hard shoulder.Bold shoulder: How to instantly power up your look

Plums are a wonderful autumn fruit, useful for all sorts of recipes both sweet and savoury. In Ireland we are blessed with wonderfully sweet plums.Currabinny Cooks: Juicy plums work for both sweet and savoury dishes

The rise of home skincare devices doesn't mean that salons and clinics no longer serve a purpose.The Skin Nerd: Don’t try this at home — new treatments in the salon

Millions of gamers watched Fortnite reach breaking point on Sunday night, with ten seasons of mysterious storyline culminating in meteors hitting the island and everything disappearing.GameTech: End of beginning for Fortnite as Chapter 2 finally goes live

More From The Irish Examiner