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February 24, 2021 11:47 am
Milk price increases are being “wiped out” by surges in input costs – but market indicators suggest a continued boost to milk price heading into peak season, the Irish Creamery Milk Suppliers’ Association (ICMSA) has claimed.
Speaking on the matter, ICMSA Dairy Committee chairperson Ger Quain said that the market fundamentals have “moved to an extent that warranted the price increases announced by some milk purchasers for January milk”.
However, he was adamant that these increases should continue going towards the peak production period beginning in May.
“Special attention” would focus on co-ops who had not increased farmer price for January, he added.
ICMSA president Pat McCormack
Irish dairy prices should remain reasonably strong throughout the first six months of 2021, according to Irish Creamery Milk Suppliers’ Association (ICMSA) president Pat McCormack.
“The outcome of all recent Global Dairy Trade events has been positive,” he told AgriLand.
“This reflects the relatively strong sentiment that is being expressed within global dairy markets at the present time, and I can’t see this state of affairs changing, certainly during the first half of the year.”
End of lockdown
Significantly, McCormack believes that a world coming out of lockdown will help to boost market prospects further.
“The ending of lockdown will create additional opportunities within the catering and service sectors, not just here but internationally,” he added.
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