Glanbia decision welcomed

IRELAND - Irish Farming Association (IFA) President Padraig Walshe said the decision made by the Glanbia board last week to reverse the 1.32c/l (6c/gal) price cut implemented last August by the Plc, and to hold that price until March, totally vindicated IFA’s analysis of markets as consistently highlighted by the National Dairy Committee in recent months.
calendar icon 11 January 2007
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“With a base producer price of 22.58c/l, the milk price paid by Glanbia plc was significantly out of line with market realities reflected in the November IDB SMP flat butter price of 29.2 c/l - a huge margin of 6 c/l (30c/gal). It was crucial for the livelihood of its suppliers that Glanbia reversed their August price cut,” Padraig Walshe said.

Returns for most dairy products, particularly protein products such as SMP, whey and lactose, have increased substantially in recent months, both on EU and world markets according to the IFA.

Source: Laois Nationalist

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