ICMSA: retailers running dairy ‘casino’

ICMSA President John Comer has accused Irish retailers of running “casino rules” on dairy margins, operating a “house always wins” policy in relation to market volatility.

Taking January 2012 as the base index, ICMSA’s analysis of CSO data shows milk prices paid to farmers have fluctuated by 39 basis points during the past three years, while consumers have only seen a 13-point swing in the retail price of cheese.

Milk prices paid to farmers have fluctuated from 76 to 115 base points — 39 points.