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.
21 03 2018
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%.
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.
07 06 2017
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.
09 02 2017
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.