Dairy markets are weak due to strong global milk supply.
ADVERTISEMENT
The Irish Dairy Board’s Purchase Price Index (PPI) for October is down 6.7% from the previous month to 102.8. It means that returns from the market are now running 21% behind the same month last year and translate in to prices in the low 30’s at the farmgate.
The weaker euro is helping our exports, but markets are generally weak due to strong milk supply in all the main production regions. An increase in subdued Chinese demand is required to boost sentiment.
IFA dairy chairman Sean O’Leary has urged Agriculture Minister Simon Coveney to seek European Commission assistance over the ongoing impact on the dairy markets from the ban by Russia on food products. O’Leary met with the Minister on Wednesday as part of an Irish Dairy Board delegation.
ADVERTISEMENT
“The Minister must work with his fellow Agriculture Council members and our new Irish Agriculture Commissioner Phil Hogan to re-open the cheese APS scheme, and extend it to a full year to match the announced duration of the Russian ban. It is already clear that the butter APS scheme is helping stabilise EU butter markets, but this scheme and the SMP scheme must also be extended to avoid product coming out of it and onto the market place at the same time as quotas end,” O’Leary said.
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.
The Irish Dairy Board’s Purchase Price Index (PPI) for October is down 6.7% from the previous month to 102.8. It means that returns from the market are now running 21% behind the same month last year and translate in to prices in the low 30’s at the farmgate.
The weaker euro is helping our exports, but markets are generally weak due to strong milk supply in all the main production regions. An increase in subdued Chinese demand is required to boost sentiment.
IFA dairy chairman Sean O’Leary has urged Agriculture Minister Simon Coveney to seek European Commission assistance over the ongoing impact on the dairy markets from the ban by Russia on food products. O’Leary met with the Minister on Wednesday as part of an Irish Dairy Board delegation.
“The Minister must work with his fellow Agriculture Council members and our new Irish Agriculture Commissioner Phil Hogan to re-open the cheese APS scheme, and extend it to a full year to match the announced duration of the Russian ban. It is already clear that the butter APS scheme is helping stabilise EU butter markets, but this scheme and the SMP scheme must also be extended to avoid product coming out of it and onto the market place at the same time as quotas end,” O’Leary said.
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