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 February.

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.

This is 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 – 1L of milk corresponds to 1.03kg of milk.

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 the table below are those quoted by co-ops for the month of February (2022).

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 February’s Milk Price Tracker can be found by clicking here.

With regard to the Milk Price Tracker above, please see these explanatory notes: