11 Jul 2018
ORNUA PPI INCREASE FOR JUNE JUSTIFIES FULLY BADLY NEEDED PRICE LIFTDairy, Dairy Markets
IFA National Dairy Committee Chairman Tom Phelan today (Wed) said the Ornua PPI June increase of 3.6 points to 109 points was close to the 110 points of June 2017, when the average of the Irish Farmers Journal Milk Price League was 32.3c/l + VAT (34.04c/l including VAT).
Tom Phelan said the PPI reflected the fact that market trends during June had improved to meet at least the full pay-out for May (base price plus any weather/fodder support). He said co-ops, who are meeting either today or in coming days to decide on milk prices, owe it to farmers to roll the support into the base price, and add at least an extra 1c/l to the June base.
“Not only do markets justify this increase comfortably, farmers need it very badly after an exceptionally challenging year for fodder and for cash flow,” Tom Phelan concluded.