May 13, 2010

ICMSA predict that April milk price could reach 30 cents per litre

Following the IDB announcement of product prices for April, ICMSA has stated that they calculate and expect that the price for April milk should increase by 3.2 cent per litre. Pat McCormack, Chairman of the ICMSA Dairy Committee, said that a minimum price for April milk based on market returns for butter and skim milk powder was 29 cents per litre, but he pointed out that Co-ops with a diversified product mix should be well capable of paying 30 cents per litre or higher.

  "We are confident that a price of 30 cents per litre is achievable and we would stress that that figure is based on the price paid by the IDB to the Co-ops. It's now a question of impressing on the Co-ops the necessity of passing the price increase along to their suppliers. We'll be monitoring all the Co-ops to that end", said Mr McCormack

ICMSA is confident that prices will strengthen again in the near future based on current tight supply conditions that are likely to continue over this peak production period.

Ends.     13 May 2010

Pat McCormack,           087-7608958

Chairman, ICMSA Dairy Committee.

Or

Cathal MacCarthy,       087-6168758

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