Latest news with #Tirlán
Irish Examiner
23-05-2025
- Business
- Irish Examiner
April milk prices confirmed by co-ops
The milk price for April has been confirmed by Dairygold, Carbery, Tirlán, and Lakeland Dairies. Dairygold has maintained the April quoted milk price at 50cpl, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments and VAT. This price equates to an average of 54.6cpl farm gate milk price based on the average solids achieved in April by milk suppliers. The quoted price for April was based on EU Standard constituents of 3.4% protein and 4.2% butterfat, and is 54.5cpl, inclusive of VAT. A spokesperson for Dairygold commented that 'global milk production continues to be relatively steady, but buyers remain cautious amid the threat of tariffs… Butter prices have maintained their strong price levels, although other dairy products have been less robust.' Carbery has maintained its milk price for the month of April. If this is carried across the four West Cork co-ops, Bandon, Barryroe, Drinagh, and Lisavaird, this will result in an average milk price of 52.12cpl, inclusive of VAT, 0.5cpl somatic cell count (SCC) bonus, and the FutureProof sustainability bonus. The base milk price adjustment for SCC and the FutureProof bonus figures are quoted excluding VAT. The total FutureProof bonus available in 2025 is 1.25cpl, an increase of 0.25cpl. Similarly to the Dairygold spokesperson regarding uncertainty of tariffs, Carbery have said "wider uncertainty around the outlook for global markets in the face of potential tariffs is somewhat impacting dairy market performance'. Tirlán will pay a total of 50.08cpl, including VAT, for April milk supplies at 3.6% butterfat and 3.3% protein. The April milk price consists of the base milk price of 49.58 cpl (including VAT), which is unchanged from March, and the sustainability action payment of 0.5 cpl (including VAT) to all qualifying suppliers. Both payments will be adjusted based on the actual constituents of milk delivered by farmers. The actual average price paid by Tirlán for April creamery milk, based on delivered constituents, will be 54.99 cpl (including VAT). Tirlán chairperson, John Murphy, said: 'While dairy markets are relatively stable, there has been a decline in returns for some individual products. We are pleased to be able to maintain farm gate milk price at over 50 cent per litre for the high-volume month of April. "The outcome of trade discussions over the coming period is likely to impact market direction. Consumer reaction to higher prices will also need to be closely watched.' Lakeland Dairies has also left the price of milk unchanged for milk supplied in April. The base price of 48.75cpl for constituents of 3.6% butterfat and 3.3% protein, a retention of last month's price. This price is inclusive of the 0.5cpl sustainability incentive payment. Lakeland Dairies has said that although there are geopolitical tensions and uncertainty surrounding the economic performance of dairy, the supply-demand dynamic remains largely in balance, which is providing market stability.
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 Independent
12-05-2025
- Business
- Irish Independent
Tirlán pushes ahead with Glanbia share spin-out to members
The deal will see shares valued at €173m handed over to individual members, reducing the co-operative's collectively owned stake in Glanbia to 23.7pc – still by far the largest single holding in the agri-foods business. The spin-out was approved by co-op members at a special general meeting last October. While the move means co-op members will be free to cash out a share of their stake in Glanbia, the PLC's weakened share price means the distribution is worth around €56m less than when members approved the process last year. The co-op said it will mean a distribution of shares worth over €16,804 to an average active Tirlán co-op member – farmers who supply milk to the dairy – based on a Glanbia PLC closing share price of €11.51 last Friday. Over 11,000 Tirlán members will benefit from the spin-out of shares, the co-op said. Tirlán chairperson John Murphy said that the co-op board was pleased to be in a position to return value to members. 'It is important that we return value to our 11,000 farm family members, many of whom have invested in their farm businesses and have built our organisation into the world-class business that it is today. This latest distribution of value brings the total number of shares spun-out to over 63.5 million with a current value of over €731m,' he said. Under the terms of the spin-out, a Tirlán member with 1,000 shares in the co-op will receive 448 Glanbia shares, valued at €5,156 based on last Friday's closing share price – and they will retain 893 co-op shares as well. The value of the deal is well down on when it was first mooted last August. Based on the then valuation of the PLC, every 1,000 co-op shares would have been in line for €7,013 in Glanbia PLC shares, plus their new co-op allocation. The spin-out will reduce the former Glanbia co-op's stake in Glanbia PLC, although unless or until farmer-members actually sell their new shares the combined holding won't change. ADVERTISEMENT Learn more Tirlán members have approved potentially reducing the co-op's shareholding in Glanbia PLC further, to below 17pc. Glanbia shares have been among the worst-performing Irish stocks in recent months. The shares are down 35pc in the last 12 months and dropped to as low as €9.20 each at one point in April – almost half where they had traded in early 2024 That underperformance has prompted a call from a shareholder named Clearway Capital, an activist investor based in Frankfurt, for Glanbia to be split up, including lobbying Tirlán and its members. At Glanbia's annual general meeting (AGM) earlier this month, Clearway founding partner Gianluca Ferrari said the reasons for the relatively weak share price needed to be scrutinised. This was the price it had been at in 2013, and there was no gain since – despite a strong bull market. 'Over the past decade the shares have swung wildly,' he said. 'They've approached €20, only to fall back to €10 again. More than once. "Yet the underlying businesses, when taken separately, have always been worth more than what the share price at any given time would imply.'
Agriland
09-05-2025
- Business
- Agriland
New appointments to Tirlán board
Tirlán Co-operative Society Ltd., has made a number of appointments to its board. Shane O'Loughlin, a dairy farmer, from Oghill, Monasterevin, Co. Kildare and independent non-executive director Honor Moore, a chartered accountant, have been appointed to the board due to vacancies arising. John Murphy, dairy farmer, from Newcastle, Co. Dublin, and independent non-executive director Paul Haran retired as directors from the board of the co-op at the annual general meeting (AGM) on May 7, 2025. Tirlán chairperson John G. Murphy said: 'I would like to acknowledge the retirement from the Tirlán co-op board of John Murphy and Paul Haran and to thank them for their contribution and service over a period that saw Tirlán co-op return to 100% ownership of the Tirlán business.' Tirlán co-op member Shane O'Loughlin, representing the Monasterevin electoral area and Donaghmore-Monasterevin region, has been a member of Area and Regional Advisory Committees since 2012 and the council since 2014. Vice-chairperson Bill Carroll, dairy farmer, from Clonmel, Co. Tipperary has been appointed vice-chairperson of the Tirlán co-op effective today (Friday, May 9). Tom Phelan a dairy farmer from Pike of Rushall, Co. Laois, retains the second vice-chairperson position. Shane O'Loughlin was appointed a director of Tirlán co-op today (May 9, 2025). Shane received a degree in animal crop production from University College Dublin (UCD). Tirlán co-op director, Shane O'Loughlin In October 2024, Shane was awarded a diploma in environment, sustainability and climate and has just completed a certificate in corporate direction with University College Cork (UCC). Shane farms in Oghill, Monasterevin, Co. Kildare and is married to Judith, and they have three children. Honor Moore was appointed a director of Tirlán co-op also today (May 9, 2025). Honor, a chartered accountant has a 30-year career in professional services. A graduate of UCC with a bachelor of commerce degree, Honor commenced her career in Arthur Andersen and then spent 15 years as a senior audit partner in Deloitte. Tirlán co-op independent non-executive director, Honor Moore Since her retirement from professional practice, Honor has built a non-executive director portfolio. Honor is a director and chair of the Audit & Risk Committee of Laya Healthcare, and a director of the Johnson & Perrott Motor Group, one of Ireland's longest established family businesses. She is a member of the Finance Committee of the UCC Governing Authority and a director of the Cork University Foundation. She is also a director of Cork ARC Cancer Support House and a member of the board of Munster Rugby. Honor is married with two children.
