Refunds on dairy exports rise again

Export refund rates for butter and whole milk powder have been pegged up another notch by Brussels market managers.

The common refund rate for butter increased €3 to €99.50/100kg ($124.83/£69.05), pushing the maximum tender rate up to €106.70.

The refund rate for whole milk powder rose 8% to €54/100kg (£67.75/£37.47), all with immediate effect.

The increases are the third since the beginning of the year and were hailed by the Irish agriculture minister Mary Coughlan as a welcome boost for exports.

Some doubt that the rise will do enough to make EU product competitive on the world market.