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Independent.ie

Thursday 8 December 2016

Co-ops set to stick with April's prices

Published 21/06/2011 | 05:00

Despite an overall positive outlook for dairy ingredients, the majority of co-ops have refused to follow Lakeland Dairies' lead on increasing the milk price paid for May supplies.

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While Lakeland increased its price by 0.5c/l to 33.75c/l for May, most co-ops boards have held firm at their April prices.

Kerry, Glanbia, Dairygold and Connacht Gold remain on 33c/l including VAT for May supplies. Town of Monaghan, Tipperary and Centenary Thurles have also confirmed that they are holding their milk prices at 33c/l including VAT.

The board of Arrabawn met last Tuesday night but decided not to make any change to its price of 33.5c/l including VAT

Wexford Creameries' price of 30c/l plus VAT for April will also be its price for May milk supplies, it confirmed.

The west Cork collective of Bandon, Barryroe, Drinagh and Lisavaird have also decided to hold milk price at April levels. Drinagh will pay 33.4c/l including VAT and SCC bonus, while Lisavaird is offering 33.67c/l including VAT.

Shortages

Meanwhile, there are some early indicators of possible shortages in dairy ingredients on the world and European markets, according to the IFA's dairy expert, Catherine Lasquerettes.

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With solid demand for dairy products, production is not expected to increase sufficiently to put serious pressure on prices.

The effect of drought in northern Europe has hit milk supplies, while production in the US appears to be limited to following internal demand. Meanwhile, only modest growth of 1-2pc is expected from New Zealand and Australia.

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