How does the Irish milk price compare to other countries in Europe
Irish farmers were paid the twelfth highest milk price in the European Union during the month of October, figures from AHDB show.
According to the AHDB, Irish farmers were paid an October milk price of 29.91c/kg – 0.31c/kg lower than the EU-15 price and 0.10c/kg more than the EU-28 average.
The October EU weighted average milk price stood at 29.81c/kg, up 2.02c/kg on the previous month.
Compared with the previous year, the weighted average EU price for October was down 0.93c/kg or 3.0% on the year before.
According to the AHDB, the UK farmgate milk price stood at 26.32c/kg, which was the lowest price of any nation in any of the EU-15 countries and almost 3.59c/kg less than the Irish price.
The EU-15 weighed average price stood at 30.21c/kg in October, it shows, just over 7% higher than the month earlier, but 3,8% lower than the corresponding month in 2015.
The price paid to Irish farmers during the month of October was also lower than other EU-15 countries such as Greece, Finland, Sweden, France and Italy.
Table: European Milk Price
November prices heading in the right direction
A number of Irish creameries have announced that they will increase the milk price paid to farmers for November supplies.
Yesterday, Kerry Group announced that it will be increasing its milk price for November supplies by 1c/L, with the price rising to 29c/L including VAT.
The Kerry Group decision follows Glanbia and Lakeland Dairies who both set their milk prices for November on Monday.
Following a meeting of the board of Glanbia, it announced that it will pay its member suppliers 30c/L, including VAT, for November manufacturing milk supplies.
This price is inclusive of a 1c/L Glanbia Co-operative Society support payment to its members.
Glanbia Ingredients Ireland (GII) has increased its base price by 2c/L to 29c/L, including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. The GII base price is up 9c since July.
In addition, Lakeland Dairies also confirmed that it has increased its November milk price by 2c/L, bringing the price paid to farmer milk suppliers to over 29c/L inclusive of VAT.
When the additional 3c/L for voluntary out of season milk production scheme is included, it brings the price to over 32c/L for November milk.