Latest news with #KerryDairyIreland
Agriland
6 hours ago
- Business
- Agriland
Carbery confirms reduction in milk price for July
Carbery Group has announced that it will reduce its milk price to suppliers for milk provided in July. The group said that if this decision is replicated across the four west Co. Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, it will result in average milk price of 50.02c/L, inclusive of VAT, a 0.5c/L somatic cell count (SCC) bonus and FutureProof sustainability bonus. The FutureProof bonus and SCC bonus are quoted excluding VAT. The FutureProof bonus available for 2025 is 1.25c/L. The average milk price for July is 1.05c/L lower than the price announced last month for June supplies. A spokesperson for Carbery said: "Milk supply has strengthened globally, and this, combined with uncertainty around tariffs and global trade performance, is causing markets and commodity prices to soften. "We continue to monitor global markets with the aim of delivering the best milk price possible to our shareholders, in line with market performance," the spokesperson added. The decrease in milk price from Carbery Group is a continuation of a trend this month, with other processors also opting to decrease their prices. Yesterday (Monday, August 19), Tirlán announced a reduction in milk price for July supplies. It will pay a total of 48.58c/L (including VAT) for July creamery milk supplies at 3.6% butterfat and 3.3% protein. The July milk price consists of the following: base milk price of 48.08c/L (including VAT), a reduction of 0.5c/L from June; and 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 actual average price paid by Tirlán for July creamery milk, based on delivered constituents, will be 54.65c/L (including VAT), the processor outlined. Kerry Dairy Ireland has also confirmed the milk price it will pay to its suppliers for July, deciding to reduce its price. The Kerry Dairy Ireland milk price for July milk supplies is 49.03c/L, including VAT, quality and sustainability bonuses. This is down from the is 50.03c/L offered last month for milk supplies in June. Last week, Lakeland Dairies agreed to pay a price of 48.25c/L (3.6% butterfat and 3.3% protein) for July milk in the Republic of Ireland, which is inclusive of the 0.5c/L Sustainability Incentive Payment. This is a reduction of 1c/L on the price paid in June. In Northern Ireland (NI), a price of 39.3p/L will be paid for milk supplied in July which is also inclusive of the Sustainability Incentive Payment. This is a reduction of 1p/L on the price paid in June.
Agriland
3 days ago
- Business
- Agriland
Kerry Dairy Ireland confirms milk price for July supplies
Kerry Dairy Ireland has confirmed the milk price it will pay to its suppliers for July, deciding to reduce its price. The Kerry Dairy Ireland milk price for July milk supplies is 49.03c/L, including VAT, quality and sustainability bonuses. This is down from the is 50.03c/L offered last month for milk supplies in June. The processor said that, based on Kerry Dairy Ireland's average milk solids for July, the milk price return inclusive of VAT, quality and sustainability bonuses is 53.32c/L. At EU standard constituents of 3.40% protein and 4.20% butterfat, the milk price is 53.57c/L, including VAT. In a statement today (Thursday, August 14), Kerry Dairy Ireland said: "Global dairy markets are shifting toward a supply-heavy position, with relatively strong milk output across key production regions outpacing demand growth. "This imbalance is putting some downward pressure on commodity prices." Yesterday, Lakeland Dairies board confirmed that it would pay a price of 48.25c/L (3.6% butterfat and 3.3% protein) for July milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment. This is a reduction of 1c/L on the price paid in June. In Northern Ireland (NI), a price of 39.3p/L will be paid for milk supplied in July which is also inclusive of the Sustainability Incentive Payment. This is a reduction of 1p/L on the price paid in June. The processor has stated that market prices have declined over the last three to four weeks, driven by a steady increase in global milk supplies and softening demand amid ongoing trade and geopolitical tensions. "Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers with the best milk price possible in line with market conditions," the company said.
Irish Examiner
25-06-2025
- Business
- Irish Examiner
Co-ops confirm May milk prices
May milk prices have been confirmed by Dairygold, Kerry Dairy Ireland, Tirlán, and Carbery. The May quoted milk price has been reduced by 1cpl by the Dairygold board. This results in a milk price of 49cpl based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of Sustainability and Quality payments and VAT. This will result in an average May farm gate milk price of 53.4cpl based on the average May 2025 mil solids achieved by Dairygold milk suppliers. Based on EU standard constituents, of 3.4% protein and 4.2% butterfat, is 53.5cpl inclusive of VAT for the quoted milk price for May. A company spokesperson stated: "While dairy commodity prices remain relatively robust, the global supply and demand balance for certain products has weakened. Supply is projected to increase, and demand in some sectors is challenged, negatively impacting returns. "Additionally, geopolitical concerns and Trump tariffs pose significant challenges for buyers navigating an uncertain environment. The Dairygold Board continues to monitor markets closely and will review milk price on a monthly basis.' Kerry Dairy Kerry Dairy Ireland has announced a May milk price of 50.03cpl, including VAT, as well as quality and sustainability bonuses. At EU standard constituents 3.40% protein and 4.20% butterfat, the milk price is 54.66cpl including VAT. Based on average milk solids from Kerry Dairy Ireland suppliers, the milk price return, inclusive of VAT and bonuses, amounts to 52.75cpl. A spokesperson for Kerry said: 'Strong demand has supported relative market stability; however, rising commodity prices are beginning to filter through to retail, which may result in increased pressure on consumer demand.' Tirlán Tirlán has announced that they will reduce the base milk price by 1cpl from April's price and pay suppliers 49.08cpl, including VAT, for supplies at 3.3% protein and 3.6% butterfat. The base milk price in May for Tirlán suppliers will now be 48.58cpl (including VAT) with a 0.5cpl (including VAT) Sustainability Action payment added for qualifying suppliers. The base price and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Tirlán for May milk supplies based on delivered constituents will be 53.62cpl (including VAT). Commenting on the May milk prices, Tirlán Chairperson John Murphy said: 'We have come through a very strong peak milk supply period, and milk volumes remain very good due to favourable weather conditions. "While dairy markets are generally stable, the price we have set today reflects the current returns. It is still shaping up to be a decent year on dairy farms.' Carbery Carbery has also reduced its May milk price by 1cpl. Assuming the decision is replicated across the four West Cork co-ops, Bandon, Barryroe, Drinagh, and Lisvard, this will result in an average milk price of 51.07cpl inclusive of VAT, the 0.5cpl SCC (Somatic Cell Count) bonus, and the FutureProof sustainability bonus, which as of this year is 1.25cpl. A spokesperson for Carbery added: "While dairy markets remain relatively stable, geopolitical developments are creating uncertainty for buyers, while demand has weakened somewhat with supply projected to increase.' Read More Stephen Cadogan: Why every dairy farmer needs a cash buffer in 2025
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.
