The board of Dairygold has approved the payment of a milk bonus of 1c/L, including VAT, on all milk deliveries from suppliers for the calendar year 2022.
This payment will be made with the December milk payment in January.
The announcement comes as the processor has again maintained a milk price of 57.5c/L for supplies made during December; the same price paid to farmers for the previous three months.
The December milk price is based on standard constituents of 3.3% protein and 3.6% butterfat, and is inclusive of bonuses and VAT.
The processor said that this price equates to an average December farmgate milk price of 73.3c/L, based on average December milk solids, achieved by Dairygold milk suppliers.
The quoted milk price for December based on EU Standard constituents of 3.4% protein and 4.2% butterfat is 63.0c/L
A spokesperson for the company commented that “while dairy markets continue to show signs of weakening in recent weeks caused by an increase in global milk supply and a reduction in demand from high prices, the Dairygold Board has agreed to maintain the current milk price for December milk supply”.
“The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” they added.
Yesterday (Tuesday, January 17), Kerry Group announced an unchanged base price for December of 56c/L including VAT, at constituents of 3.3% protein and 3.6% butterfat.
Based on the average milk solids supplied to Kerry Group during December, the average price return to farmers, inclusive of VAT and bonuses, is 71.35c/L, the processor said.
Kerry Group will also pay an additional 1c/L including VAT at 3.3% protein and 3.6% butterfat on December volumes as part of its contractual commitment.
Last week, Lakeland Dairies confirmed an additional payment of 0.6c/L including VAT or 0.5p/L will be made on all litres of milk supplied in 2022.
In the Republic of Ireland, Lakeland maintained its milk price of 58.85c/L including VAT for milk at 3.6% butterfat and 3.3% protein for December supplies.