Northern Irish Union Concerned at Falling Prices

UK - Following the 9.9 per cent fall in commodity prices at the latest Fonterra Milk Auction the Ulster Farmers’ Union (UFU) has voiced concerns that this will be replicated in the local auction next Thursday.

23 April 2012

1 minute read

Europe

Speaking ahead of the coming United Dairy Milk Auction, UFU President John Thompson has acknowledged that falling commodity prices coupled with rising milk volumes play a part in the current trend in milk pricing.

The UFU President said: “whilst we acknowledge that global market conditions are difficult my concern is that ahead of next week’s auction the dynamics of milk purchasing are changing here in Northern Ireland and would be unfortunate if this is used as a mechanism to drive price down locally.”

Mr Thompson concluded: “in the event of this this happening a lower price will prove very difficult for our farmers’ to make a profitable return for their farm business, especially with fuel prices at an all time high.”