Dairygold announces increase in milk price
Dairygold has become the latest dairy processor to reveal its price for July milk, deciding to increase its offering.
The processor said: “Dairygold confirms an increase of 0.5c/L for its July quoted milk price to 30.69c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
“This equates to an average farmgate milk price of 34.1c/L based on average July milk solids, achieved by our suppliers, for all milk supplied to Dairygold.
“Overall dairy market sentiment has quietened over the past number of weeks. Dairygold is carefully monitoring the situation. As is customary, the board will continue to review milk price on a month-by-month basis,” a Dairygold statement added.
Yesterday (Monday, August 17), Kerry Group announced its milk price for supplies in July, becoming the third processor to do so this month.
The Kerry base milk price for July supplies will be 30.5c/L including VAT. This price is held on the price announced last month.
A spokesperson for the Kerry Group said that: “Based on average July milk solids, the price return, inclusive of VAT and bonuses, is 33.84c/L.”
On Thursday (August 13), Lakeland announced its price, revealing an increase to the base price.
In a statement, a spokesperson for Lakeland said: “In the Republic of Ireland, a base price of 31c/L including VAT will be paid for milk supplied in July. This represents an increase of 1c/L on the June price.”
In Northern Ireland, a base price of 25.25p/L will be paid for July milk. This is an increase of 1p/L on the June price, the co-op added.
Before that, on Tuesday (August 11), Glanbia became the first processor to reveal its milk price for the month of July, revealing a held price for last month’s supplies.
Glanbia will pay its member milk suppliers 30.1c/L including VAT for July creamery milk supplies at 3.6% butterfat and 3.3% protein. This is unchanged from the June milk price.
Glanbia Ireland (GI) will pay a base milk price for July of 29.68c/L including VAT for creamery milk at 3.6% fat and 3.3% protein.
Farmer members will also receive a 0.42c/L including VAT payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.