Latest news with #SeánMolloy
Agriland
06-05-2025
- Business
- Agriland
GDT price index moves up by 4.6%
The average Global Dairy Trade (GDT) price index increased by 4.6% following the latest auction today (Tuesday, May 6). There were a total of 175 bidders in the event which saw 16,714 metric ton (MT) of product sold. The average selling price was €3,988 per metric ton in the auction, which lasted for more than three hours, during which there were 101 winning bidders and 26 bidding rounds. The GDT Price Index now stands at 1,344 today – compared to the previous index figure on April 15 which was 1,285. Source: GDT (May 6, 2025) The GDT auction, which is held twice in every month, is a trading platform for core dairy products. Today's top performers were lactose and cheddar – both achieved a double digit increase in price. But there was a disappointing result for mozzarella which dropped by 0.3%. 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 6, 2025) The upbeat performance by seven out of the eight traded commodities is a good indicator of demand although market uncertainty remains on the horizon. Outlook Last week Seán Molloy, the CEO of Tirlán, told Agriland that milk supply has not picked up across the world in the way that farmers 'might have been envisioned it would'. He believes that 'difficult supply' in parts of Europe is helping to create demand/supply tension which is 'always helpful' as a supplier. Molloy is optimistic that 2025 will be a 'positive year' from a farming and milk price perspective. But he has also warned that 'there are high levels of geopolitical and wider economic turbulence with new alliances being formed at a global level'. 'We expect the volatility to continue in the months ahead,' the CEO of Tirlán stated.
Agriland
29-04-2025
- Business
- Agriland
Which county got biggest share of 2024 Tirlán milk payments?
Kilkenny-headquartered co-op, Tirlán today (Tuesday, April 29) confirmed that milk payments to its 4,051 dairy farmers totaled €1.56 billion in 2024. According to the co-op milk payments last year were a 'huge driver of the rural economy' and helped to support 19,200 jobs. Tirlán today published its 2024 annual report which revealed milk payments by county and topping the poll were dairy farmers in Co. Kilkenny who received the lion's share of payments totaling €263 million. Dairy farmers in Co. Waterford were second on the list of Tirlán' s league table of milk payments as they received payments amounting to €237 million last year while farmers in Co. Tipperary were third on the list with payments of €206 million. Meanwhile dairy farmers in Co. Monaghan were at the bottom of the 2024 Tirlán milk payments table as they received a total of€4 million. Source: Tirlán The latest annual report also highlights the volume of milk supplies collected by Tirlán in Northern Ireland during 2024, according to its latest annual report milk payment to farmers in Northern Ireland totaled £61 million last year. Tirlán milk suppliers In its latest annual report Tirlán states it is 'Ireland's largest milk processor with 3.028 billion milk pool' and highlighted that last year it returned an average milk price of 52c/L. This compares to the average price paid for milk in 2023 by Tirlan to its milk suppliers which was 44c/L, that had been significantly down on the average price in 2022 of 63c/L. Although the co-op said that milk supply 'made a strong recovery in the later months of 2024 to finish the year' overall it was approximately '1% back on 2024 volumes'. In 2023 the co-op's milk pool decreased by 3% to 3.1 billion litres. Tirlán's chief executive, Seán Molloy, today warned that 2025 'is vital for the agricultural sector and rural economy with a decision due on Ireland's retention of the nitrates serogation'. 'We need certainty for our farmers and the retention of a fit-for-purpose derogation. 'In Ireland and in Brussels, Tirlán has continued to highlight the positive actions being taken by our members to improve water quality,' Molloy said. He also highlighted that the co-op is 'working to assist our farmers to increase milk solids production in a sustainable manner to drive farm income through our new milk solids growth programme. The CEO outlined that this 'will be a significant focus for the business in 2025. Molloy said: 'As we look to the future, generational renewal is key for our co-op. 'We believe we have a strong benefits package and supports to offer new milk suppliers, with over 50 new entrants and new suppliers to Tirlán joining in 2024.'
