In his address, John Comer, president of the ICMSA, expressed disappointment that the €13.7m package for Irish farmers, announced in September as part of a range of support measures for EU farmers struggling with volatile prices, has not yet been paid.

Comer said the ICMSA's position on this is clear: "The funding should be fully matched by the National Exchequer - as committed to by An Taoiseach at the National Ploughing Championships - and should be paid out before Christmas."

Global dairy markets have weakened in recent weeks and dairy farmers are left looking at 2016 with absolute foreboding. We need our policymakers to realise this and act

So far 2015 has been a difficult year for dairy farmers, with milk prices falling to under 25c/l soon after the abolition of EU milk quotas in April. Comer said the ICMSA estimates that the loss to Irish dairy farmers in 2015 relative to 2014 is €590m, which translates to a drop of around €1bn to the wider rural economy. The damage to price caused by an increase in milk production following the abolition of quotas has been compounded by the continuation of the Russian ban on EU food products and a slump in demand from China.

"As the picture looks now, the losses will be greater in 2016," he said. "Global dairy markets have weakened in recent weeks and dairy farmers are left looking at 2016 with absolute foreboding. We need our policymakers to realise this and act."

Making use of European Commissioner for Agriculture Phil Hogan's attendance at the event, Comer made specific reference to intervention price for butter and SMP, saying the present price of 20c/l is simply "not at the races" and a realistic safety net price of 28c/l is required.

He added: "The current toolbox of policies is totally insufficient to address the kind of farm income volatility that looks increasingly likely to become a feature of our working lives."

Confidence

However, Comer also stated his full confidence in Hogan, following calls for the Commissioner's resignation this week from the European Milk Board (EMB). In an open letter written to Jean-Claude Juncker, the President of the EU Commission, EMB president Romuald Schaber said Hogan "does not have any solutions to the current milk crisis, nor does he want any. He, however, has displayed well enough his professional incompetence and his disregard for farmers. This is why we, as representatives of European dairy farmers, call you to act accordingly."

Comer said that while the ICMSA "does not always agree with Hogan's policies, we most certainly do not agree with the views expressed by EMB this week".

EMB is a federation of milk producers' organisations across Europe and lists the ICMSA among its members.

Comer also referred to the upcoming climate change conference in Paris, COP21, saying that the reality is that Ireland can produce food very efficiently from a carbon emissions perspective and that must be factored into the discussions.

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ICMSA annual general meeting takes place today