Tirlán will reduce the price it will pay for milk supplied in July by 2.5c/L on the June price and has again warned that global dairy markets continue to “weaken”.
The co-op has confirmed that it will pay a total of 35.58c/L (including VAT) for July creamery milk supplies based on 3.6% butterfat and 3.3% protein.
Tirlán said the July milk price is as follows:
- Base milk price of 31.58c/L (including VAT);
- Support Payment of 3.5c/L(including VAT);
- Sustainability Action Payment of 0.5c/L(including VAT) to all qualifying suppliers.
In a statement the co- op said today (Thursday, August 17) that the base price, Support Payment and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Global marketplace
Tirlán’s chair, John Murphy, said that the board of the co-op was keeping a close eye on the global marketplace which he described as “challenging”.
“Global dairy markets continue to weaken which regrettably has necessitated reductions in base price.
“We recognise the challenges of the current high-cost operating environment at farm level and significant supports have been provided to assist farmers as the market moved sharply downwards from historical highs.
“The board has agreed to provide a further 3.5c/L to support our farmers’ milk price for the month of July,” Murphy added.
Milk price
Tirlán is the latest processor to announce its milk price for July supplies.
Earlier today Dairygold reduced its July milk price by 2.0c/L to 36c/L while Kerry Group yesterday (Wednesday, August 16) confirmed that it will pay suppliers a base price of 34c/L for July milk, plus a milk contract payment of 3c/L on qualifying milk volumes.
Meanwhile, Lakeland Dairies has also confirmed that it will reduce the price it will pay for milk supplied in July in both the Republic of Ireland and Northern Ireland.
It will pay a price of 35.5c/L for milk at 3.6% butterfat and 3.3% protein for July milk in the Republic of Ireland.
This represents a reduction of 1.85c/L on the June price.