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Milk price: “High time for farmers, what the market will give back”

Milk price:

Milk processors are asked to pay the farmers a milk price “that the market will give back”.

Irish Farmers’ Association (IFA) chairman of the National Dairy Committee Stephen Arthur said milk processors have to pay more than 36 cents a liter for July milk.

Arthur went on to point out that the Ornua Purchase Price Index (PPI) for July was 35.5c / l, but added:

“If the figure is adjusted for the Ornua value payment worth 3.22 c / l including VAT, the milk price equivalent is 38.72 c / l.

“A sustainable milk price of over 36c / l is achievable in the market and farmers should get it for the rest of 2021,” he added.

The Chairman noted that both the EU and New Zealand futures markets had seen price increases for butter and skimmed milk powder (SMP) over the past week, adding that the GDT had increased “on these two most important commodities for Ireland” by 3 , 8% and 1.5% respectively. .

The IFA Chairman continued:

“Farmers have faced a difficult season of poor grass growth and rapidly increasing operating costs.

“It is high time that the farmers get what the market returns; we also need to balance our books, ”concluded Arthur.

“It is high time that the farmers get what the market returns; we also need to balance our books, ”concluded Arthur.

This follows the announcement of the latest Ornua PPI for July yesterday (Wednesday 4th August), which fell slightly for the month of June due to “weaker butter and powder yields”, the Irish milk exporter confirmed.

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