Milk price decline to cost farmers over €500m

Dairy farmers are set to lose over €500m this year as a result of lower milk prices, the Irish Creamery Milk Suppliers Association warned yesterday.

Deputy president Pat McCormack said Irish dairy farmers have already lost €220m this year, due to the reduced prices.

“This massive reduction in revenues will not only be felt at farm level, but in every business that is dependent on rural Ireland for its business.