Glanbia Milk Price Move Will Boost Farmers Confidence – IFA

IFA Press Release
Issued by the National Press Office, The Irish Farmers’ Association
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Thursday December 16 2010

GLANBIA MILK PRICE MOVE WILL BOOST FARMERS CONFIDENCE – IFA

IFA National Dairy Committee Chairman Kevin Kiersey said the decision by Glanbia to offer their suppliers the opportunity to “hedge” a minimum 15% of their milk at 28c/l + VAT for 3 years was a positive move to address farmer concerns over price volatility.
He said a stable milk price for three years will give farmers more confidence to invest in the future of their business, and he felt the Glanbia proposal would suit many of their suppliers.
However, Mr Kiersey said this new scheme must include clear provisions to reassure producers that the contract price offered will not be cross-subsidised by the non-contracted milk price.
Kevin Kiersey said the scheme must be clearly explained and made available to all milk producers. In addition, he called on other processors to follow suit and come forward with similar options for their producers.
Contact:
Niall Madigan  (01) 450 1931/ 086 822 8635