Tirlán has today (Wednesday, September 18), become the latest processor to confirm its milk price for August supplies, announcing an increase of 1.5c/L.
The processor will pay a total of 46.33c/L, including VAT, for August creamery milk supplies at 3.6% butterfat and 3.3% protein. This is an increase of 1.5c/L on the July payment.
The Tirlán August milk price consists of the following:
- Base milk price of 45.83c/L, including VAT, an increase of 1.5c/L from July;
- Sustainability Action Payment of 0.5c/L, including VAT, to all qualifying suppliers.
The base price and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers, the processor said.
The actual average price paid by Tirlán for August creamery milk, based on delivered constituents, will be 53.36c/L, including VAT.
Commenting on the announcement, Tirlán chair, John Murphy said: “Dairy commodity markets are continuing to firm, with a noticeable lift in butter prices.
“Overall the global milk supply outlook remains unchanged and is likely to be flat this year. The board will continue to monitor the dairy market on a monthly basis.”
Tirlán
Registration is now open for Tirlán co-op members for the upcoming special general meeting (SGM) on October 4, 2024. Members eligible to vote will have received a registration pack via post with details on how to register.
The SGM is being held for members to vote on a proposed rule change that would allow the board of the co-op greater flexibility in managing its financial investments.
If approved by members, the rule change will facilitate the release of €239 million of value to members through a spin-out of 15 million Glanbia plc shares, the processor said.
This would be worth approximately €7,013 for every 1,000 shares that a farmer currently holds in Tirlán co-op, or €24,604 to an average active Tirlán co-op member (based on the Glanbia plc closing share price of €15.90 on August 28, 2024).
Meanwhile, dairy co-operative and processor Tirlán highlighted its farm water quality programme to a team of officials from the European Commission.
The team from the commission visited the farm of Cheryl and Alan Poole near Gorey, Co. Wexford, who are part of Tirlán’s River Slaney Project, which is aimed at improving the catchment running through the south-east.
“It was an opportunity to show the nitrates European Commission delegation first-hand the practical science-based approach to enhancing water quality on Irish farms,” Murphy said.