News

Ireland: Dairy farmers losing patience on milk price, according to the ICMSA

Ireland
Market & Price Trends
Published Nov 28, 2023

Tridge summary

Irish dairy farmers are frustrated with the current milk prices being offered by processors, as they feel that the recent improvement in global dairy markets is not being reflected in their farm gate prices. Farmers have seen significant falls in spot markets and farmgate prices this year, and they believe that the recent bounce in milk markets should result in higher prices for them. The farmers' association is calling for the gap between the current prices and the purchase price index to be narrowed and eliminated in the coming months.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Dairy farmers are “losing patience” with milk prices being offered by the country’s processors, according to the Irish Creamery Milk Suppliers’ Association (ICMSA). The ICMSA claimed that a global market improvement for dairy produce is not being reflected in the prices currently on offer for Irish milk suppliers. Speaking today (Monday, November 27), Noel Murphy, the association’s dairy chairperson, welcomed the current bounce in milk markets across the world, but indicated that farmers were aggrieved that this bounce “fails to materialise in their farm gate prices”. “2023 has seen significant falls in spot markets from the high of 2022 with resultant falls in farmgate prices of 20c/L or higher in the first half of the year. The falls in price some farmers experienced were in some cases higher than the total received as recently as 2016. “When markets turned positive for the duration and to the degree we had seen recently, then farmgate prices simply have to follow,” he added. ...
Source: AgriLand
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