ICOS urges EU to create dairy futures market

Europe needs to develop a functioning dairy futures market, to allow farmers, or co-ops on their behalf, to hedge their position in the market, said ICOS president Martin Keane.

Following yesterday’s national Dairy Forum in Dublin, ICOS highlighted market volatility as the key ongoing challenge facing dairy co-ops and farmers, and urged all parties to commit to developing structures to mitigate its worst effects.

“We are now in the fourth significant market downturn since the EU reduced support levels in the mid-2000s, and we still have a lot to do in terms of helping farmers to cope with damaging market fluctuations,” said Mr Keane.