Milk prices likely to drop every five years - Coveney
During an interview on Ireland Live at 10 yesterday, Minister for Agriculture Simon Coveney said the abolition of dairy quotas will inevitably be accompanied by milk price volatility.
Minister for Agriculture Simon Coveney addressing the IFA's 60th Annual General Meeting at the Irish Farm Centre in Dublin.
ADVERTISEMENT
Speaking to UTV Ireland news anchor Alison Comyn, the minister said the last two years have seen all time highs in terms of milk prices, which will put prices following dairy quota abolition into sharper context.
Coveney focused firstly on the good news about measures put in place to "hedge and insulate farmers from price volatility" and cited milk processor Glanbia as an example of this.
As reported in the Irish Farmers Journal Glanbia announced earlier this month that it will pay at least 30.5 cent per litre including vat for milk in January, February and March.
ADVERTISEMENT
However, the minister added that without such guarantees in the future "milk prices are likely to drop every five years or so."
Also on the subject of dairy farming the minister said that Ireland aims to be the fastest growing milk producer on the planet for the next 10 years and that Ireland will see a "50% volume growth in the next five years and a doubling of the milk we produce as a country over the next 10-15 years."
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Speaking to UTV Ireland news anchor Alison Comyn, the minister said the last two years have seen all time highs in terms of milk prices, which will put prices following dairy quota abolition into sharper context.
Coveney focused firstly on the good news about measures put in place to "hedge and insulate farmers from price volatility" and cited milk processor Glanbia as an example of this.
As reported in the Irish Farmers Journal Glanbia announced earlier this month that it will pay at least 30.5 cent per litre including vat for milk in January, February and March.
However, the minister added that without such guarantees in the future "milk prices are likely to drop every five years or so."
Also on the subject of dairy farming the minister said that Ireland aims to be the fastest growing milk producer on the planet for the next 10 years and that Ireland will see a "50% volume growth in the next five years and a doubling of the milk we produce as a country over the next 10-15 years."
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS