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Saturday 10 December 2016

Top price of 18c/l in milk exchange

Published 23/03/2010 | 05:00

Almost 22 million litres of milk quota was traded at market clearing prices of between 4c/l and 18c/l in the most recent quota exchange.

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The expectations of milk quota buyers and sellers were closely matched, with the overall volume traded up nearly 30pc in the second exchange for the 2010/11 quota year.

Department of Agriculture figures reveal that just over 44 million litres of milk quota was offered for sale and close to 66 million litres sought by buyers.

From those totals, 28 million litres was successfully traded.

Some 22 million litres was sold at market clearing prices ranging from 4-18c/l.

The remaining six million litres was sold through the priority pool at the maximum price of 6c/l, with the exception of Kerry, where the priority pool price followed the market clearing price to 5c/l, and Lakelands and Connacht Gold, where the price fell to 4c/l.

The highest price paid for milk quota was in Bandon, where buyers paid 18c/l for 505,134l of quota.

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Glanbia and Dairygold closely followed this with a market clearing price of 15c/l for both. Over 3.7 million litres of quota was traded at 15c/l in the Glanbia quota pool, while more than 2.5 million litres was traded at the same price in the Dairygold pool.

The next highest prices paid were in Tipperary, at 14c/l for 142,110 litres of quota, and Wexford, where 379,057 litres were sold at a market clearing price of 13c/l.

The market clearing price in Kerry was 5c/l, while Arrabawn, Lakeland and Town of Monaghan had a clearing price of 6c/l, and in Connacht Gold the price was 4c/l.

There was no trading of quota at the market clearing price in seven co-ops: Boherbue, Green Pastures, Kill, Knockraha, Lee Strand, Newmarket and Oldcastle.

Minister for Agriculture Brendan Smith said the volume of quota offered for sale was 16pc higher than in the first stage of the 2010/11 scheme and although demand was slightly down, the overall volume traded increased by nearly 30pc.

Irish Independent



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