Oct 142013
 

The Deputy President of ICMSA, Pat McCormack, said he expected a considerable degree of activity to coincide with last Friday’s closing date. He noted that there were two distinct reasons for an increased level of activity in this second last milk exchange.

“Firstly and for whatever reason, there’s a group who are exiting milk supplying altogether. Last Friday represents the last year for this group to sell their quota and if they’re realistic about the price at which they’ll sell then I would expect a degree of pick-up from the second distinct group: those suppliers looking for cover for the supply year 2014-2015. It now looks likely – barring an unforeseen and very radical event – that we’re going to incur a superlevy this year. The size of that superlevy won’t be known till Summer 2014 but we can safely assume that it will be in excess of the €16.5 million that we had to pay in 2012. That’s the background going into 2014 and I believe that there will be farmers taking precautions such as purchasing any quota available in this exchange to minimise the possibility of a 28.65 c/L superlevy charge in the final year of quotas”, said Mr McCormack, who is also Chairman of the Dairy Committee.

Ends    October 11.

Pat McCormack, 087-7608958

Deputy President, ICMSA

or

Cathal MacCarthy, 087-6168758

ICMSA Press Office