IMMEDIATE MILK PRICE LIFT FULLY JUSTIFIED

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IMMEDIATE MILK PRICE LIFT FULLY JUSTIFIED
11 Nov 2019

IMMEDIATE MILK PRICE LIFT FULLY JUSTIFIED

Dairy

 

IFA National Dairy Committee Chairman Tom Phelan has urged co-op board members who will be meeting over the coming days to decide on the October milk prices to immediately apply a minimum of 1c/l increase.

“Co-ops paid an average of around 28.5c/l + VAT (30c/l incl VAT) for September milk, which includes significantly higher prices by the West Cork co-ops.  With the exception of those four, most have paid less than the Ornua PPI for the majority of the previous 12 months,” he said.

 

“The Ornua PPI for October trade has risen by 1.8 points to 105.6, an increase equivalent to 0.6c/l.  This second increase in as many months, which reflects our own analysis of European market indicators, would allow co-ops to pay 29.9c/l + VAT (31.5c/l incl VAT) – over 1c/l more than the main co-ops paid for September milk,” he said.

 

“The first co-ops to call their October milk price will do so before the middle of next week.  Farmers will expect their board members to do right by them by truly reflecting the real market improvements in a fully justified milk price lift,” he concluded.

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