First step to create Irish milk futures markets as milk price index developed

Milk processors have taken the first step to create a milk futures market for Irish dairy farmers, by developing a milk price index for Ireland.

Agriculture Minister Michael Creed welcomed their initiative at this week’s dairy forum, where he said mitigating dairy price volatility is the main challenge.

Since May 2014, Arrabawn, Aurivo, Dairygold, Kerry, North Cork, Tipperary, Carbery, Ornua, and FC Stone have been working on a milk price index, which will be unveiled in July or August.