Irish dairy farmers paid third lowest milk price in Europe
Irish dairy farmers were paid the third lowest milk price of all Member States in March, recent figures from the European Commission’s Milk Market Observatory (MMO) show.
During March, Irish farmers were paid a base milk price for raw milk collections of just 22.7c/L (excluding co-op support payments), only higher than both Latvia and Lithuania.
The MMO data also shows that the Irish raw March milk price is down considerably on the same month in 2015, with prices back by 6.45c/L or 22%.
It shows that dairy farmers in Cyprus were paid the highest price at 54.70c/L, while the majority of continental raw milk was purchased between 26-28c/L, with the exception of Poland’s milk price of 24.97c/L.
The MMO data also shows that the EU average farm gate milk price decreased by 4% in March 2016, to 28.1c/kg or 27.29c/L.
Irish dairy processors cut March milk price
A number of dairy processors moved to cut the price paid for March milk collections.
Glanbia cut the price by 2c/L to a base of 24c/L, while Lakeland Dairies paid 24.78c/L, down 1c/L on February collections.
Other processors, including LacPatrick and Kerry held the March milk price at 24.25c/L and 25c/L respectively.
European dairy prices fall
According to the MMO, the average raw milk price of Member States declined by 11% during March on the corresponding period in 2015.
It shows that Irish dairy farmers faced a 22% lower milk price this March compared to the same month in 2015.
And, UK and Dutch dairy farmers were hit with price cuts of 15% and 16% respectively, while the German raw milk price declined by 11%.
Both Spain and Italy also posted price falls, back by 6% and 7% respectively, but Finnish farmers actually seen raw milk prices increase by 3% in March of this year compared to 2015 levels.