Cork Institute of Technology is running a new course on how to manage price risk in the dairy industry.

The workshop, which is being run in conjunction with commodities firm, INTL FCStone, will address the use of futures and financial derivatives as a means of managing price risk.

The course is said to have attracted a broad range of people, including sales executives from co-ops and others in the dairy industry, from Ireland and internationally.

A shift in EU price support mechanisms and the increased globalisation of the dairy industry has lead to greater volatility in the sector.

The fully subscribed workshop aims to provide such professionals with an in-depth understanding of the structure and function of the risk management tools available, as well as providing them with an understanding of the risk management policies, procedures, and strategies, employed by leading international companies active in this sector.

Commerical insights

The workshop has been designed, and will be delivered, by a highly experienced team of academic an industry personnel, and will be delivered by experts from CIT and INTL FCStone, together with guest lecturers from the field of risk management and will provide academic theory, statistical modelling, as well as provide commercial and strategic insights. It will be delivered through a combination of interactive classroom and computer based laboratory sessions.

Minister for Agriculture Michael Creed attended CIT to be briefed on the course, which will take place from 5 - 9 September.

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