Dairygold has become the latest processor to hold its milk price for supplies in July, deciding to pay the same base figure of 57.5c/L, based on constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
Announcing the price today (Friday, September 16), the processor said that the average milk price payout for this month will be 64.8c/L, based on average August milk solids provided by Dairygold milk suppliers.
On EU standard constituents of 3.4% protein and 4.2% butterfat, the price is 62.7c/L.
A spokesperson for Dairygold said: “Dairy markets have continued to be flat in recent weeks as we now see the effect of inflation on demand.
“Markets returns remain at historic highs and this is reflected in the continuous strong milk price being paid.
“The society will continue to maximise the value of milk returns to recognise the significant increases in input costs to milk suppliers this year. The Dairygold board will continue to monitor markets closely and review milk price on a month by month basis,” the spokesperson added.
Earlier this week, Kerry Group announced that its base price for August milk supplies will remain unchanged compared to July.
The processor will pay a base price of 56c/L at 3.3% protein and 3.6% butterfat, including VAT.
Based on Kerry’s average milk solids for August, the processor said that the milk price return inclusive of VAT and bonuses is 62.06c/L.
Similar to last month, Kerry Group confirmed that it will pay suppliers an additional 1.5c/L at 3.3% protein and 3.6% butterfat on August milk volumes.
The processor said that this is part of its “contractual commitment”.
The statement also confirmed a further payment for Kerry suppliers on fixed milk-price contracts.
“An ex-gratia payment of 1.5c/L, inclusive of VAT, at 3.3% protein and 3.6% butterfat, will be made on milk volumes supplied under fixed price contracts in August.”
On Tuesday (September 13), Lakeland Dairies yesterday became the first processor to announce its milk price for supplies in August.
The processor has opted to hold its Republic of Ireland base price at 57.35c/L, including VAT, at 3.6%fat and 3.3 %protein.
However, a input support payment of 1.5c/L will also be made to all suppliers, including those on fixed milk price contracts.
This bring the minimum price for milk at standard constituents to 58.85c/L.