In the wake of continued weakness in the global and national dairy markets, a second meeting of the Dairy Forum has been called for next Wednesday 9 March.

The first forum took place on 29 September 2015 and was attended by processors, farm organisations, banks and other groups. It is chaired by Minister for Agriculture Simon Coveney. The IFA has welcomed the decision to call the forum together.

This came in a week when the prices at the GDT increased by 1.4% on average but, probably more importantly, the price of whole milk powder (WMP) jumped 5.5%, edging towards $2,000/t.

In the first glimmer of light in recent times, global trade statistics released this week show the volume of powder imported into China increased 56% for the month of January compared with January 2015.

The ICMSA has expressed concern that the Irish submission to the EU Farm Council meeting on 14 March does not contain a proposal to increase intervention prices.

Glanbia

Glanbia has launched preliminary details of phase seven of its voluntary Fixed Milk Price scheme. The price 27.6 c/litre excluding VAT at 3.3% protein/3.6% fat. Farmers’ milk volumes in this new Glanbia scheme will be locked in for two years and nine months (33 months) as opposed to the 18 month duration of phase six.

Jack Kennedy