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Ireland 08.12.2023

Irish dairy sector foresees €1.4 billion contraction with a 27% dip in milk prices

Source: The DairyNews
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The Irish dairy market is poised for a substantial contraction, anticipating a €1.4 billion decline in the value of milk production in 2023, as revealed by the Central Statistics Office (CSO).
Irish dairy sector foresees €1.4 billion contraction with a 27% dip in milk prices
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With a nearly 27% contraction in milk prices and a marginal reduction in production volumes, the sector faces significant challenges. Mairead Griffin, a statistician at CSO, emphasized the considerable impact of reduced milk and cereal values, foreseeing a major influence on the agricultural operating surplus for the year.

The value of crops is also expected to decrease by 11%, amounting to a €299 million decline, primarily attributed to lower cereal values influenced by adverse weather conditions during the growing season.
Becky Smith
Becky Smith
Analyst (Livestock) AHDB
China is an important buyer on the world dairy markets, with a strong influence on global demand that plays into price dynamics. Imports of dairy products to China continued to decline in 2023, driven by increased domestic production and weaker consumer demand.
Keith Woodford
Keith Woodford
principal consultant at Agri food Systems Ltd.
Synlait is in big trouble with losses mounting up and no easy answers, says Keith Woodford. For much of the past 20 years, Synlait was an entrepreneurial player in the New Zealand dairy industry, with a strong focus on growth. For a long time, it seemed to be doing everything right.