Carbery has today (Wednesday, May 21) confirmed that the processor has maintained its milk price for the month of April.

If this decision is replicated across the four West Cork co-ops; Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average milk price of 52.12c/L.

This price is inclusive of VAT, a 0.5c/L somatic cell count (SCC) bonus and FutureProof sustainability bonus.

A spokesperson for Carbery said: "Wider uncertainty around the outlook for global markets in the face of potential tariffs is somewhat impacting dairy market performance.

"Carbery will continue to monitor the situation closely as we prioritise maximising returns for our shareholders.”

According to the processor, the FutureProof bonus available for 2025 has increased by 0.25c/L to a total of 1.25c/L.  

Last month, Carbery Group confirmed a “strong financial performance” for 2024, with operating profit up approximately 20%.

Group turnover also increased for the year ended December 31, the dairy processor said.

Revenue increased by 8% to €668 million in 2024, while group EBITDA (earnings before interest, tax, depreciation, and amortisation) increased by 12% to €52 million.

Carbery reported an operating profit of €24.8 million, an increase of €5.2 million, or 20%, from 2023.

The group said that its performance allowed it to set aside €8.6 million for its Stability Fund “to support milk price if needed in the future”.

Carbery said that it paid its second-highest annual average milk price on record in 2024.

€4.7 million was paid to farmers for sustainability actions undertaken in 2024 under the FutureProof sustainability bonus, bringing the total paid out under that bonus to €12.2 million since it started in 2022.

93% of Carbery’s milk pool is coming from suppliers who participate in the FutureProof programme.