Significant market trends must lead to milk price increase – ICMSA

Speaking following the latest auction in the Global Dairy Trade, Mr. Gerald Quain, ICMSA Dairy Committee Chairperson has said that the increase of 8.3% is very significant and vindicates ICMSA’s view that there is significant positive momentum in the dairy market at present.   It also shows that price increases must not only be on the agenda for milk processor board meetings but must be delivered and indeed as quick as the Covid-19 cuts of previous months.

This increase in the GDT is not an isolated market indicator but rather a further indication of the trend that started back in May. The current market is continuing to show strength and this continued strength should focus the mind of those setting prices in the coming week that 30cpl is the absolute minimum that will be acceptable to dairy farmers for their June milk and milk processors’ simply cannot to continue to use the Covid pandemic as a reason to hold back milk price.   A milk price increase is justified and must be delivered, concluded Mr. Quain.

Ends       8 July 2020

Gerald Quain, 086-3623401

Chairperson, ICMSA Dairy Committee

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Press Office ICMSA, (061)314677