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

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.