Latest news with #KerryDairyIreland
Agriland
20-05-2025
- Business
- Agriland
GDT price index dips slightly
The average Global Dairy Trade (GDT) price index dropped by 0.9% following the latest auction today (Tuesday, May 20). There were a total of 177 bidders in the event which saw 15,194 metric ton (MT) of product sold. The average selling price was €4,075 per metric ton in the auction, which lasted for nearly two hours, during which there were 110 winning bidders and 15 bidding rounds. The GDT Price Index now stands at 1,333 today – compared to the previous index figure on May 6 which was 1,344. Source: GDT (May 20) The GDT auction, which is held twice in every month, is a trading platform for core dairy products. There were some sharp falls in price for products which earlier this month had enjoyed a strong performance. In the graphic (below) the shaded dials indicate the proportion of each product group sold versus total quantity sold during the previous 12 months, with a three month lag. Figures within the dials represent the percentage change in GDT price index and the weighted average price. Source: GDT (May 20) GDT auction The latest downbeat performance at the GDT auction today by five out of eight of the traded commodities will not be a welcome development for processors or dairy farmers. Last week Kerry Dairy Ireland warned that while global demand for dairy remains 'resilient', the ongoing US tariff actions are putting pressure on the US Dollar. 'As a result, European export prices are losing competitiveness with the US and New Zealand,' it said. Separately Dairygold yesterday (May 19) also stated that global milk production continues to be relatively steady, but 'buyers remain cautious amid the threat of tariffs'. 'Despite the ongoing and significant geopolitical challenges, dairy markets have been reasonably stable. 'Butter prices have maintained their strong price levels, although other dairy products have been less robust,' it outlined.
Agriland
19-05-2025
- Business
- Agriland
Dairygold confirms milk price for April supplies
Dairygold has announced its milk price for supplies in the month of April, confirming that it is maintaining its price announced last month for March supplies. The Dairygold board has maintained its April quoted milk price at 50c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments, and VAT. According to Dairygold, the April milk price equates to an average April farmgate milk price of 54.6c/L, based on average April 2025 milk solids achieved by Dairygold milk suppliers. A Dairygold spokesperson commented: 'Global milk production continues to be relatively steady, but buyers remain cautious amid the threat of tariffs. 'Despite the ongoing and significant geopolitical challenges, dairy markets have been reasonably stable. Butter prices have maintained their strong price levels, although other dairy products have been less robust,' the spokesperson added. Dairygold added that its board will continue to monitor markets closely and will review price on a monthly basis. Milk price Other dairy processors have been announcing their milk prices over the last week. Tirlán announced on Friday (May 16) that it will pay a total of 50.08c/L including VAT for April creamery milk supplies at 3.6% butterfat and 3.3% protein. This is consistent with the co-op's March supplies, with no change in price. Tirlán's base price for April is 49.58c/L (including VAT), which is also unchanged from March. The price also consists of 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, Tirlán said. The previous day, Kerry Dairy Ireland confirmed that its price for April milk supplies has been set at 50.43c/L including VAT and quality and sustainability bonuses. This compares to the Kerry Dairy Ireland price for March milk supplies which was 51.43c/L including VAT and quality and sustainability bonuses.
Agriland
15-05-2025
- Business
- Agriland
Kerry Dairy Ireland confirms April milk price
Kerry Dairy Ireland today (Thursday, May 15) confirmed that the price for April milk supplies has been set at 50.43c/L including VAT and quality and sustainability bonuses. This compares to the Kerry Dairy Ireland price for March milk supplies which was 51.43c/L, (including VAT and quality and sustainability bonuses). At EU standard constituents of 3.40% protein and 4.20% butterfat, the processor said that the April milk price is is 55.09 c/L, including VAT. Based on Kerry Dairy Ireland's average milk solids for April, the milk price return inclusive of VAT, quality and sustainability bonuses is 53.93c/L. Milk price In a statement the processor said that while global demand for dairy remains 'resilient', the ongoing US tariff actions are putting pressure on the US Dollar. 'As a result, European export prices are losing competitiveness with the US and New Zealand,' it said. The market observation from Kerry Dairy Ireland comes as Tánaiste Simon Harris travelled to Brussels today for meetings with European Trade Commissioner Maros Sefčovic and EU Trade Ministers to discuss the latest developments on trade and tariffs. As part of his schedule the Tánaiste will hold a bilateral meeting with Commissioner Sefcovic on the margins of the Foreign Affairs Council (FAC) on Trade where they will discuss the latest on negotiations between the EU and the US and identify possible ways forward. The main FAC meeting will also give ministers the opportunity to discuss policy views on EU trade relations with the US and the commission and ministers will get an update on the negotiations to reach 'a balanced and mutually acceptable solution'. It is also expected that discussions will take place on the EU's list of possible countermeasures, published last week, to 'defend its consumers and industry only in case negotiations with the US fail'. It is understood the Tánaiste intends to 'set out Ireland's position as it seeks to avoid any unintended consequences for the Irish economy'.
