Michael Creed (Cork North West, Fine Gael) | Oireachtas source

Deputy Cahill should be cautious in terms of making the point that what I believe to be a prudent measure is removing the floor from dairy prices. I draw his attention to the fact that one of the leading processors in the Irish dairy market has maintained the price for milk in January at the price paid for milk in December. Many processors may only need an excuse to begin to drop the milk price and Deputy Cahill should be careful in the comments he makes.

I will just make a couple of other interesting and relevant points. In the event of increased volatility in the marketplace, these changes do not remove the capacity of the Commission to buy into intervention. It is not closing the door on further intervention.

It is ridiculous in the extreme to argue that a €650 million overhang in the market, which is what the value of those stocks are at the moment, does not impact on the market of itself.

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