This is a subscriber-only article
The firming of market returns in recent weeks will allow co-ops to improve their base milk prices before the end of the year, according to IFA dairy chair Tom Phelan.
Phelan made the comments after Glanbia held its base milk price and increased its co-op support by 0.5c/l on Monday. He said Glanbia had taken the first positive step to improving pay-out for its suppliers.
Returns
Phelan said: “Glanbia and other co-ops will be able to improve their base milk prices over the coming months, and co-op boards, which are currently meeting to decide on September milk prices, must start focusing on finding ways of passing back more of the improved market returns to farmers.
“We have shown that the current dairy commodity prices reported by the EU Milk Market Observatory, EU spot quotes and futures for February 2020 trade, and closer to home the Ornua PPI, return between 1c/l and just over 4c/l more than the average of the August Irish Farmers Journal milk price league.”
SHARING OPTIONS: