Carbery Group has become the latest processor to announce its milk price for January – revealing a rise in price for last month’s supplies.
In a statement today, Tuesday, February 18, a spokesperson for the processor announced that the board of Carbery Group has decided to increase its milk price by 1c/L for January.
The increase of 1c/L reflects an increase in the base price of 1.5c/L and a reduction in the support being paid from the stability fund of 0.5c/L, the processor explained.
This will be replicated across the four co-ops: Bandon; Barryroe; Lisavaird; and Drinagh, the representative concluded.
Lakeland milk price
Last week, Lakeland Dairies also announced its decision to increase its milk price for last month.
In the Republic of Ireland, a base price of 31.81c/L including VAT and lactose bonus will be paid for milk supplied in January.
In Northern Ireland, a base price of 25.25p/L will be paid for January supplies. The base price has been increased 0.25p/L.
Commenting on the price, a co-op spokesperson said:
“While European and US milk production has returned to growth in recent months, the global dairy market fundamentals are reasonable with supply and demand pretty well balanced. However, there is a growing concern in the market on the back of the coronavirus.
Over the past month, sentiment in China has become weaker as authorities there move to get a handle on the virus. This has resulted in a slowing of consumer sentiment and distribution channels.
“Lakeland Dairies will continue to monitor the market situation closely over the coming weeks,” the co-op spokesperson concluded.