International comparisons for August milk prices see Ireland take over New Zealand and approach the leading prices paid in central Europe and in the US.

Major Irish processors paid 35.2c/l to 36.5c/l. This is behind Germany’s Müller at 37.9c/l but above Fonterra’s 34.1c/l at similar solid levels.

Irish prices were lower than those paid in New Zealand in the spring. This comes as Ornua’s Purchase Price Index (PPI) rose by 3% to a three-year high for last month. The PPI value is now equivalent to a farmgate milk price of 32.9c/l excluding VAT.

IFA dairy chair Sean O’Leary said: “Irish co-ops will be meeting from this week to decide on their September milk price, and I believe board members must ensure that suppliers get at least 1c/l more for their September milk.”