Moves to head off dairy price plunge

Emergency measures by the main banks and the EU to assist farmers are being pushed by the Government, ahead of an expected plunge in dairy prices in 2015.

Agriculture Minister Simon Coveney said he had spoken to the heads of banks and was also pushing Brussels to help bail out dairy farmers, who are expecting prices to fall by up to 50% next year.

Despite the ending of milk quotas in April in what was set to be a bonanza for farmers, an unexpected excess in milk production globally is set to push prices down.