The latest Milk Price Tracker – brought to you by Agriland and the Irish Creamery Milk Suppliers’ Association (ICMSA) – details milk prices from the most significant Irish dairy co-ops for the month of August.

For each co-op, a green arrow indicates an increase in base milk price (compared with the previous month); a blank space signifies no change; and a red arrow indicates a drop in base milk price.

It is important to note that the cent-per-litre (c/L) milk prices – shown in the table below – are calculated using the widely-accepted milk pricing system (an approach employed by most Irish co-ops).

It should also be noted that, when calculating the base prices (on a c/L basis), we have used a fixed mass density factor to convert from kilograms (kg) to litres (L).

The conversion factor used is 1.03; in other words, 1L of milk corresponds to 1.03kg of milk.

Moreover, the Irish c/L milk prices – quoted in the table – are base prices at the ‘standard’ fat and protein percentages cited by the vast majority of co-ops (3.3% protein and 3.6% fat).

We also include base prices at ‘standard’ European criteria (3.4% protein and 4.2% fat).

Furthermore, there is a column detailing what we describe as the ‘maximum attainable price’ – which is based on consistent levels of 3.3% protein and 3.6% fat.

The milk prices in this table (below) are those quoted by co-ops for the month of August (2021).

All bonus and penalty payments are based on manufacturing milk. The VAT rate changed from 5.4% to 5.6% as per Budget 2021.

Further details of bonuses and penalties for the August Milk Price Tracker can be found by clicking here.

WITH REGARD TO MILK PRICE TRACKER (ABOVE), PLEASE SEE THESE EXPLANATORY NOTES:

A new interactive monthly milk price comparison tool – which allows farmers to make relevant processor price comparisons based on their own individual statistics – has been launched by the Irish Creamery Milk Suppliers’ Association (ICMSA).

The facility, available to all members on the ICMSA website, will allow farmers around the country to see exactly what other processors would have paid them for their milk on a monthly or yearly basis.