Butter Tag

IDB REBRAND COMPLETED

On Tuesday 31st March the Irish Dairy Board (IDB) completed the adoption of their new corporate identify, Ornua (‘new gold’ in Irish).  It is the second time in just over 50yrs that they have changed their name. They were established as An Bord Bianne (The...

IDB NAME CHANGE

On Monday 23rd Feb 2015 members of the Irish Dairy Board Co-Op voted in favour of changing IDB’s name to Ornua Co-operative Limited and have approved the adoption of a new corporate identity, Ornua, which means ‘new gold’—which they say is a reflection of the...

IRISH INVEST €35M IN INNOVATION

A total of €35m will be invested by the Irish government and  dairy industry in two dairy research and innovation centres in Limerick and Cork. €25m will be spent on building a Dairy Processing Technology Centre at the University of Limerick. A further €10 million...

REPORT HIGHLIGHTS ROLE OF CORK AS “DAIRY HUB”

A new report from Cork's Institute of Technology says the city will benefit from 4,000 new jobs by 2020 and exports will grow by €450m as a consequence of recent investments in the local dairy infrastructure. Dairygold is investing €117m in Mitchelstown & Mallow of...

IDB INDEX DOWN TO 94.4 IN DECEMBER

The IDB’s Purchase Price Index was down 5.1% in December to 94.4. The index fell a combined 30% in 2014, by far the biggest fall ever recorded. The average Irish farmgate milk price averaged 33.5c/litre in 2014, an all-time high, but prices at the start...

Dairy product price index drop by 0.6% in the latest Global Dairy Trade auction

Key figures to note include: AMF index up 3.6%, average price US$3,566/MT Butter index up 4.9%, average price US$2,940/MT BMP index down 2.5%, average price US$3,886/MT Ched index down 7.9%, average price US$3,453/MT LAC not offered RenCas index down 0.8%, average price US$9,601/MT SMP index down 12.0%, average price US$2,874/MT WMP index up...

Russia- Food ban may create short term dairy pressure

Russia is a vital export destination for EU butter and cheese. In 2013 alone Russia took in over 19% of EU butter and 27% of EU cheese. The loss of this export market to Russia will mean an increase in available stocks in the short...

Netherlands – Prices are steadier at Dairy Auctions Online

In the Netherlands this week a total of 234t of dairy products were sold out of 710t offered at the Dairy Auctions Online. Gouda and whey prices were steadier. A total 42t of Gouda averaged €3,150/tonne, up €15 from last week, and 150t of whey...

Germany – Dairy futures weaken at Eurex

The second week of July saw dairy futures traded at Eurex weaken. July contracts for butter traded at €3,550/tonne, a 1% drop from last week, while August contracts dropped 0.7% to €3,525/t. Contracts for September to December traded between €3,450 and €3,475. In total 153...