Dairygold has announced a new fixed milk price for March 2020 – and has approved a year-end milk bonus for its co-op members today, Wednesday, January 29.

In a statement today, the southern cooperative revealed that the Dairygold board has approved the payment of a milk bonus of 0.5c/L including VAT on all milk supplied during the 2019 calendar year from its milk supplying members.

The ‘Year End Milk Bonus’ payment will be made next month, in February, with the January milk payment.

Speaking about the milk bonus, Dairygold chairman, John O’Gorman, said: “The movements in global dairy supply and demand in recent months have created a more balanced market with firmer returns across mainline dairy commodities, especially protein products.

“As a cooperative with a good 2019 performance we are happy to reflect that upturn directly in the form of a milk price bonus.”

Fixed Milk Price

As has been the case for the past four years, Dairygold is once again offering milk suppliers the offer to avail of a fixed milk price for a three-year period.

This period commences on March 1, 2020, and ends on November 30, 2022.

Dairygold is offering a fixed milk price over the period of 31.75c/L including VAT and bonus payments (balanced scorecard and sustainability bonus) at 3.3% protein 3.6% butter fat.

When adjusted for the society’s 2019 average annual milk solids the price equates to 35.86c/L, the co-op says.

Application forms will be sent to milk suppliers shortly.