Mar 132015

The decision of the Irish Dairy Board to increase the Purchasing Price Index for first time since December 2013 following 12 consecutive declines is a welcome development and shows further signs of returning confidence in the dairy product market, according to Mr. Pat McCormack, Chairperson of ICMSA’s Dairy Committee.  “It’s just as significant that other market indicators are positive including the Global Dairy Trade Auction – which rose for the sixth consecutive time – including two separate substantial increases of 10.1% and 9.4%.  We’d be looking as well as the kind of gains made by specific products at the most recent  GDT auction, where cheddar increased by 10.8%, SMP increased by 5.9% and butter by 2.5. There is a clear onus on the IDB – given their sales of premium products – to guarantee the upward trend of the index in the coming months by ensuring full returns are gained from the market”, concluded Mr. McCormack.

 Ends     13 March 2015.

Pat McCormack, 087-7608958

Deputy President, ICMSA.