Latest news with #SustainabilityActionPayment
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
16-05-2025
- Business
- Agriland
Tirlán announces no change in milk price for April supplies
Tirlán has today (Friday, May 16) announced 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. The base milk price for April is 49.58 c/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. The actual average price paid by Tirlán for April creamery milk, based on delivered constituents will be 54.99 c/L (including VAT), the processor. Tirlán chairperson John Murphy said that while markets are 'relatively stable' there has been a decline in returns for some individual products. Murphy said: 'We are pleased to be able to maintain farm gate milk price at over 50c/L for the high-volume month of April. 'The outcome of trade discussions over the coming period is likely to impact on market direction. Consumer reaction to higher prices will also need to be closely watched,' Murphy added. The board of Tirlán has said it will continue to monitor developments on a monthly basis. Tirlán Earlier this week (May 12), it was announced that over 11,000 Tirlán co-op members would benefit from a spin-out of €173 million worth of Glanbia plc shares. The board of Tirlán Co-operative Society Limited has approved the distribution of 15 million Glanbia plc shares to co-op members. Based on a Glanbia plc closing share price of €11.51 as of last Friday (May 9), this will be worth approximately €5,156 for every 1,000 shares that a member holds in Tirlán co-op, or over €16,804 to an average active Tirlán co-op member. The co-op said the spin-out was 'overwhelmingly approved' by members of Tirlán at a special general meeting held on October 4, 2024. Following the completion of the spin-out, Tirlán co-op will remain the largest individual shareholder in Glanbia plc, with 23.7% of the issued share capital.
Irish Examiner
23-04-2025
- Business
- Irish Examiner
March milk prices confirmed
Dairygold, Carbery, Tirlán, and Lakeland Dairies have all announced their March milk prices. Dairygold announced they will be maintaining their quoted milk price of 50cpl based on standard constituents of 3.6% butterfat and 3.3% protein, inclusive of sustainability and quality payments and VAT. Dairygold milk suppliers will receive, on average, a farm gate milk price of 55.3cpl based on average milk solids achieved for March 2025. A Company spokesperson commented that 'Dairy markets have remained generally stable, despite the ongoing, significant geopolitical risks. Global milk production remains relatively stable, but buyers remain cautious in advance of the EU peak milk supply, as well as the threat of tariffs.' For the first time in 2025, Carbery reduced its base milk price by 1cpl. With this reduction, if it is applied across all four West Cork co-ops; Bandon, Barryroe, Drinagh and Lisvard, this will result in an average milk price of 52.12cpl, inclusive of VAT, and a 0.5cpl somatic cell count (SCC) bonus and FutureProof sustainability bonus, excluding VAT. A spokesperson for Carbery said: "Our milk price has been strong since the beginning of the year. Our adjustment this month is bringing milk price more in line with actual market performance.' Farmers supplying Tirlán will receive a total of 50.08cpl, including VAT, for March at 3.6% butterfat and 3.3% protein. This price is made up of a base milk of 49.58cpl (including VAT), a reduction also of 1cpl from February and a Sustainability Action Payment of 0.5cpl (including VAT) to all qualifying suppliers. The actual average price paid by Tirlán for March creamery milk, based on delivered constituents, will be 55.24cpl (including VAT). Tirlán Chairperson John Murphy said: 'While dairy markets are relatively stable, our milk price required a realignment to reflect market returns. Overall, supply and demand are generally in balance. Global milk supply growth is weak, with Bluetongue, Avian Flu and Foot and Mouth negatively impacting milk production in some regions. There is considerable uncertainty about the potential impact of tariffs in the coming months. The Board will continue to monitor developments on a monthly basis.' Lakeland Dairies has decided to keep its February milk price for March. A base price of 48.75cpl (3.6% butterfat and 3.3% protein) will be paid for March milk in Ireland, which is inclusive of the 0.5cpl Sustainability Incentive Payment. The Chairperson of ICMSA's Dairy Committee, Noel Murphy, has called for a reversal of cuts made to the February milk price. 'The 'Trump drama' is a medium-to-long-term concern but has no impact on current pricing and must not be used as an excuse to reduce milk price for March. There's a long way to go before we see the true implications of the US imposition of swingeing tariffs, and it's not wise or prudent to anticipate or even guess what's going to happen in the coming months. "The global milk market is in a good position, and with the weather doing its best to drive production across the country, those setting the price should be looking to sunnier days too. There's an unanswerable case to reverse the cuts to February milk price and deliver market returns in excess of 50cpl base price', he said. Mr Murphy said the justification for milk price cuts appears to be based on reductions of 'spot' prices. These February 'spot' prices have not only reversed, but prices have also improved for butter, skimmed milk powder (SMP), and whole milk powder (WMP) during March. The latest Dutch dairy quotations, published on April 16, show that fresh butter price has reduced by €50, resulting in €7,250/t net ex-works, WMP down by €80, resulting in €4300/t, and SMP down by €40, resulting in €2,390/t. As of April 15, Global Dairy Trade (GDT) has reported an overall increase of 1.6% in the GDT Price Index, resulting in an average price of €3,854/t. GDT Price Index also reports an increase of 1.5% in butter, making the weighted average price €6,750/t and an increase of 2.8% for WMP, resulting in a weighted average price of €3,666/t. SMP has seen a reduction of 2.3% on the GDT Price Index, bringing its weighted average price to €2,457.
