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IFA National Dairy Chairman Tom Phelan has said the Ornua PPI stabilising for the first time since last October is a clear indication that Irish co-ops have seen the worst of dairy returns and are now able to benefit from the firmer dairy prices being reported by the EU Milk Market Observatory.

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IFA National Dairy Committee Chairman Tom Phelan has welcomed the significant improvement in the 2017 financial performance by Ornua, which saw an 18% revenue growth to well over €2b, and an increase in EBITDA OF 24%.

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IFA National Dairy Chairman Tom Phelan has said that co-op boards, meeting in coming days to set the January milk price, could, despite more challenging times for dairy markets, take comfort from 3 consecutive positive GDT auctions, and from the stability shown by the Ornua January PPI.

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IFA National Dairy Chairman Sean O’Leary has said the 1.8 point increase in the May Ornua PPI to 106.8, equivalent to a milk price of 32c/l including VAT, after deduction of a 6.5c/l processing cost, vindicates IFA’s view that more of the dairy market recovery can, and must, be passed back to farmers in a May milk price uplift of up to 2c/l.

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IFA National Dairy Committee Chairman Sean O’Leary has said this week’s announcement by Ornua of a 1.6 point increase in their Product Purchasing Index to 105.4 points, which they state is equivalent to a milk price of 29.8c/l + VAT (31.4c/l including VAT), bears out IFA’s view that at least 1c/l price increase is fully justified on January milk. He added that lower payers, including Kerry, need to aim higher than 1c/l to be fair to their suppliers.

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