IFA/ICMSA urge co-ops to increase milk prices

Both the IFA and ICMSA have urged the co-ops to start thinking about increasing the milk prices they pay out to suppliers.

IFA dairy committee chairman Michael Murphy said the Irish Dairy Board had this week increased its skim milk powder (SMP)-butter price by 0.89c/l (4.04c/gal) to €29.42c/l, reflecting a €100/tonne improvement in SMP prices.

The IDB had earlier announced yet another retrospective butter price increase of €50/t, to reflect better than expected trading performance during the month of October.