One particular factor that is helping to sustain prices is SMP which is experiencing “an extraordinary demand” from EU intervention, the chairman of the ICMSA Dairy Committee, Gerald Quain, commented.
“The last two Global Dairy Trades signalled a positive turn and the Dutch dairy quotations have continued to move upward with powders performing well,” he said. As a result of this, over 270,000 tonnes of SMP was sold out of intervention in 2018 and the stock overhang has now been substantially reduced.
The meetings have been called because “the medium-term outlook for agriculture is very uncertain, not least as a result of policy and trade issues stemming from Brexit. 2019 is a critical year, given the decisions that will be made on CAP post-2020” the President of the Association Joe Healy said.
“The outcome of the CAP process will decide the budget for Ireland and the level of support for Irish farmers for the next seven years.