Feb 182015
 

Commenting on the decision of GIIL to hold milk price to 30.5 cents per litre for the first three months of 2015, Pat McCormack, Deputy President of ICMSA, said that the decision was further evidence of a resurgence in dairy markets and he called on all other processors and co-ops to immediately follow suit and thus underline the return of stability to the market. Mr McCormack noted that GIIL is the State’s largest processor of milk and he said that their decision represented a huge vote of confidence in the upswing now underway. He said that the strengthening international dairy markets were now combining with a currency bonus as the Euro fell relative to both the Dollar and Sterling and that Dutch Dairy Quotations prices for  butter/SMP and WMP were now at levels last seen  in July and August 2014 when farmers were receiving close to 35 cents per litre. With less than six weeks to go before Quota Abolition, Mr McCormack said it was hugely important that this stronger market was immediately reflected and to that  end all processors and Co-ops must follow the lead set by GIIL and Aurivo and set a  positive scene for the immediate post-quota era.

Ends      18 February 2015.

Pat McCormack, 087-7608958

Deputy President, ICMSA

Or

Cathal  MacCarthy, 087-6168758

ICMSA  Press Office