Dairy groups set for battle in summer milk price row
Glanbia Ingredients Ireland (GIIL) is holding its milk price for April at 39c/l, the company has confirmed.
GIIL made the announcement over the weekend following a board meeting last Friday.
The news comes as processors and farm organisations prepare to do battle on milk price through the summer.
Dairies have warned that prices will have to come back from the current high levels to reflect returns available on international markets.
Industry sources have predicted that while prices will hold for April supplies, they will come under pressure from now until the end of the summer.
One processor pointed out that the Irish Dairy Board (IDB) price for butter had fallen by €675/t since January to €3,325/t.
He said this equated to a 17pc reduction. He said prices for skim milk had fallen by 10pc or €300/t in the same period. Taken together, he estimated that the cuts equated to a 5c/l cut in milk price.
However, the farm organisations have accused the industry of attempting to talk down prices.