ICMSA wants currency bonus in milk prices

Interview: Pat McCormack, ICMSA Deputy President

The 20% weakening of the euro compared to the dollar is worth nearly 4c per litre of Irish milk exported to the US as butter and skimmed milk power, according to ICMSA.

“Milk products are generally quoted and sold in US dollars, meaning more euros are returned if the price remains the same and the euro weakens,” said ICMSA Deputy President and dairy chairman, Pat McCormack.