Tirlán has said it will pay a base price of 35.58c/L for milk supplied in December, representing an increase in base price of 1c/L compared to the last monthly milk price (for November milk).
The base price (including VAT) is based on standard constituents of 3.6% butterfat and 3.3% protein.
Apart from the base price, a seasonality payment of 4c/L (including VAT) will apply to all December milk that meets quality criteria.
This payment also applies to non-contracted volumes from autumn calving and liquid milk scheme members.
As well as that, a sustainability action payment of 0.5c/L (including VAT) payment will continue to apply to all qualifying suppliers. Suppliers should register their sustainability action on the Tirlán Farmlife website before January 26 to secure the sustainability action payment.
The total price offered will be 40.08c/L for qualifying milk.
The base price, seasonality payment and sustainability action payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Tirlán chairperson John Murphy said: “The board is pleased to be in a position to increase base price again this month to reflect recent improvements on global markets. The main driver on increased market returns continues to be the reduction in milk supply from some key regions.
“Demand trends will need to be closely monitored given the inflationary pressures and geopolitical tensions,” Murphy added.
The Tirlán chair said that the seasonality payment is a “recognition of the higher costs incurred in milk production at this time of year”.
The seasonality bonus payments applies over the winter months of December, January and February on all non-contracted milk volumes that meet quality criteria.
The payment rate for December 2023 and January 2024 is 4c/L, with 3c/L available for February 2024.
The seasonality bonus payment will increase to 5c/L in December 2024, 7c/L in January 2025, and 5c/L in February 2025. Payment will be adjusted to reflect the actual constituents of the milk delivered.