IFA National Dairy Committee Chairman Tom Phelan said the move by Glanbia to increase their November milk price 1c/l to 30c/l incl VAT was their first step towards price levels more in line with improved market returns.
He said other co-ops now must follow suit. All co-ops, including Glanbia, must prepare to increase prices further to better reflect actual market returns as we move into 2020.
“The November Ornua PPI is 31.9c/l incl VAT. EU average dairy market prices would currently return another cent or so above that. Clearly, there is scope for all co-ops to continue to improve prices this month, and into 2020,” he concluded.