Farm Ireland
Independent.ie

Monday 24 September 2018

Dairygold announces its July milk price

Margaret Donnelly

Margaret Donnelly

Dairygold has announced its July milk price for suppliers.

The Dairygold Board decided to maintain the base price paid for milk supplied in July at 32c/L inclusive of 0.5c/L quality bonus and VAT, based on standard constituents of 3.3pc protein and 3.6pc butterfat.

It comes after Glanbia announced that it will pay its Member milk suppliers 32c/L including VAT for July manufacturing milk supplies at 3.6pc butterfat and 3.3pc protein.

Glanbia Ireland (GI) has maintained its base milk price for July at 31 cpl including VAT, for manufacturing milk at 3.6pc fat and 3.3pc protein.

Lakeland Dairies has increased the base milk price by 1c/L to 32.78c/L including VAT for July milk supplies.

Last week Kerry Group announced a milk price rise of 1c/L (VAT inclusive) to its suppliers for July milk.

It comes the day after Kerry announced half year figures that showed revenue growth of 1.4pc year on year for the first half.

Kerry will pay milk suppliers 32c/L (VAT inclusive) for July milk it said today.

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Kerry Group CEO Edmond Scanlon said he is considering a new support payment scheme for the company's milk suppliers, with many farmers suffering the consequences of this year's extreme weather.

"There's a package of thing we're looking at in terms of different types of support. We have to see how the next couple of months trade out, how the weather goes... but certainly we won't be found wanting as an organisation to help out our farmers." Around 14pc of the company is owned by the Kerry co-op.

IFA National Dairy Committee Chairman Tom Phelan said the move by Kerry Co-Op to increase the price for July recognises that there is scope for processors to lift their prices.

He encouraged other co-ops to follow this example and give dairy farmers’ cashflow a much-needed boost.

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