ICMSA Dairy Chairperson, Mr. Gerald Quain has reacted with extreme disappointment following the announcement from Glanbia Ireland to reduce the April base milk price to 29cpl. With some other Co-ops yet to announce their milk price, these Co-ops should focus on the Lakelands announcement last Friday with a base price of 31.78 cpl, 2.78cpl above the Glanbia base. For April milk, this is equivalent to over €1,100 for a 40,000 litres supply, which is a hugely significant sum given the very difficult first five months of the year.
Markets have been difficult over the last six months but there has been an improvement in recent weeks as evidenced by the various EU and global dairy market indicators and the no change in the PPI index. With Glanbia Ireland being the largest processor of milk in the country, it is not unreasonable of their suppliers to expect them to return a higher base price and there will be a lot of anger amongst their suppliers given this decision, concluded Mr. Quain.
Ends 14 May 2018
Gerald Quain, 086 3623041
Chairperson ICMSA Dairy Committee
ICMSA Head Office (061) 314677