Dairy farmers could suffer €1.3bn financial shock due to milk price collapse

ICMSA warns milk price volatility could slash farm incomes and trigger billions in wider economic losses across rural counties

Dairy farmers face a €1.3bn income hit as milk prices fall, with Cork and other major producing counties hardest hit, ICMSA says. Picture: Andy Gibson

Dairy farmers could experience a €1.3bn financial shock through the next 12 months, according to figures released by the Irish Creamery Milk Suppliers Association (ICMSA).

The ICMSA recently released figures illustrating the financial shock dairy farmers could face over the next 12 months as a result of the milk price drop that began in August and continues.