Tirlán is the latest processor to announce its milk price for May supplies. The co-op has confirmed that it will pay a total of 40.08c/L (including VAT) for May creamery milk supplies.
This is based on 3.6% butterfat and 3.3% protein.
The May milk price of 40.08c/L remains unchanged from April and according to Tirlán consists of the following:
- Base milk price supported by 3c/L to remain at 39.58c/L (including VAT);
- A 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.
Milk price
As per previous policy, Tirlán said that market support will apply to Fixed Price Volumes where the scheme price is below 39.58c/L.
The Tirlán total price for May creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 43.55c/L (including VAT).
Tirlán chairperson John Murphy said: “Given the challenges on farm, the board has decided to support our base price by 3c/L for May in order to maintain our overall milk price for the month.
“The global inflationary environment and rising interest rates continue to have an impact on buyer behaviour and market sentiment.
“We note a welcome stabilisation in the price of certain dairy products but other categories remain more challenging. The board will continue to review market developments on a monthly basis,” he added.
Tirlán
Earlier today, Tirlán announced plans for an “enhanced” representative structure with a more gender-balanced and younger representation.
The board of Tirlán Co-operative Society released a series of proposals to modernise the co-op’s governance structures, and increase diversity across its committees, council and board.
The proposals were outlined to the Farmer Council of Tirlán Co-op yesterday (Thursday, June 15), and will be presented to regional committees over the coming weeks.
Among the recommendations is the creation of Young Farmer Groups to educate young people about the co-op structure, encourage greater involvement, and build a strong succession pipeline;
Also proposed is the formation of a Grain Advisory Group as a forum for the business to exchange views with professional grain grower members that supply the co-op.