An October milk price of more than 40c/L has been predicted by the Irish Creamery Milk Suppliers' Association (ICMSA).

Following a meeting of its dairy committee today (Wednesday, November 10), the ICMSA’s dairy committee chair, Gerald Quain said they expect processors to announce a price that will be in excess of 40c/L when prices are revealed in the coming week.

“The serious upward momentum behind the rise in dairy markets should result in substantial rises in base milk prices for October milk," he said.

This confirmation from Ornua of price increases is well below the price increases seen in Dutch and European quotes during last month, said the dairy committee chair.

Dairy farming is entering an uncertain period in terms of regulation, climate mitigation and input costs increases, and the price that farmers receive is going to have to reflect these new realities, he said.

"The transition to greater sustainability means an end to the ‘cheap food’ era and retailers and consumers are going to have to begin paying what it actually costs to get that product to their fridge."