Dairygold has become the latest processor to confirm an increase in its milk price for supplies during November.
Dairygold has increased its quoted milk price for November by 1.5c/L to 39.5c/L, based on standard constituents of 3.3% protein and 3.6% butterfat.
The company said this is inclusive of bonuses and VAT.
In a statement today (Thursday, December 16), Dairygold said this milk price will mean an average November farm gate milk price of 51.4c/L, based on average November milk solids achieved by its milk suppliers.
The processor said the quoted milk price for November based on EU standard constituents of 3.4% protein and 4.2% butterfat is 43.2c/L.
A spokesperson for the company said that “global milk supplies continue to ease with projected growth for the year 2021 expected to be less than 1%”.
“Demand continues to be strong and dairy ingredient prices have firmed in recent weeks. As, is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month by month basis,” the spokesperson said.
Today’s announcement follows on from increases announced by Lakeland Dairies, Glanbia and Kerry Group.
The board of Lakeland Dairies was the first to announce it was going to increase the milk price for November.
In the Republic of Ireland, Lakeland Dairies has increased its milk price by 1.22c/L and will pay a base milk price of 39.22c/L, including VAT, for milk at 3.6% fat and 3.3% protein.
In Northern Ireland, Lakeland Dairies has increased its milk price by 1p/L and will pay a milk price of 31.5p/L.
Glanbia has announced that, for November, it will pay its member milk suppliers 39c/L, including VAT, at 3.6% butterfat and 3.3% protein.
This is up from 37.6c/L, including VAT, for October supplies.
Kerry Group also announced an increase in the base milk price for supplies during the month of November.
The processor said that the base price will rise to 38.25c/L including VAT at constituents of 3.3% protein and 3.6% butterfat.
That is an increase of 1.25c/L compared to the October price of 37c/L, which itself was an increase of 1c/L on the previous month.