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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.
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