Facing a real world without quotas.

(From Irish Independent)

THE final CAP reform deal is a reality check for the industry and weare facing into the real world as we move ever closer to real world prices.

Butter and skim milk powder took the brunt of the cuts. The intervention price for butterwill be reduced by 25pc over the next four years, beginning in 2004. The cut will be 7pcper year for the first three years and 4pc for the final year. The cut on butter is anadditional 10pc over that agreed in Agenda 2000.

Looking at the Irish Dairy Board's annual report for 2002, 63pc of our milk production went into butter. So any drop in price support for butter is going to have a serious …