Irish milk prices fail to match others
The 23.02p per litre (about €0.34) for 53m litres is 33% up on the May 2006 result.
However, the international milk price review compiled by the Dutch Dairy Board (Productschap Zuivel) has shown that Irish milk prices in March had not yet reflected current dairy product market buoyancy.
Kerry and Glanbia paid respectively the 11th and 13th lowest milk prices of 16 co-ops and dairies across the EU in March. However, they have since been among several Irish milk buyers to increase April and May milk prices.
Only four in the Dutch Dairy Board review paid better than the €27.82 per 100 kg now available to US milk producers, whose milk price has advanced 33% in one year. The average milk price calculated by the Dutch Dairy Board for March 2007 deliveries is €26.93 per 100 kg standard milk — 0.3% behind the price of 12 months previously.
But the four French were among seven milk purchasers in the review paying more than 12 months previously.
Meanwhile, prices of milk powder have soared to record highs in the EU and on the world market, topping $4,000 per tonne, compared to an upper limit of $2,000 in most of the last ten years.
