‘Farmers depend on it’: Processors urged to maximise milk price

Milk processors and cooperatives have been urged to maximise returns for the farmers and their families that depend on them by the Irish Farmers’ Association (IFA).

In a statement today, Tuesday, March 10, IFA National Dairy Committee chairman Tom Phelan said that, while the Irish public is living through an exceptional public health crisis, the farming community depends on processors to maximise returns.

Phelan issued a reminder to co-op boards, who will be meeting in coming days to consider milk prices.

He highlighted that dairy market returns continued positive in February, with the Ornua Purchase Price Index (PPI) returning at least 1.5c/L more than co-ops have been paying for January milk.

The earlier processors are expected to announce their February prices this week.

Ornua PPI

Last week, Ornua’s PPI increased marginally for the month of February, up slightly on last month’s figure.

The index for the month is 111.6, which converts to 33.7c/L including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L.

A spokesperson for the dairy exporter cooperative noted that this figure is stable from the PPI of 111.5 for last month.

This stability is a function of lower powder prices offset by higher cheese prices and flat returns for butter, the representative added.