Farmers can hope to see milk prices improve in early 2017, by which time Ireland will have increased dairy sales into China, Africa, and the Middle East, says Ornua chief executive Kevin Lane.

Ornua is to invest €250m in overseas acquisitions from now to 2020 developing markets for Ireland’s soaring post-quota milk output.

Pioneering technology developed at the Teagasc food research centre in Moorepark, Co Cork, is underpinning a new €20m cheese manufacturing facility for Ornua in Riyadh, Saudi Arabia.