Tirlán has today (Thursday, April 17) announced that it will pay a total of 50.08c/L (including VAT) for March creamery milk supplies at 3.6% butterfat and 3.3% protein.

This marks a reduction from last month, down from 56.08c/L. The March milk price consists of a base price of 49.58c/L (including VAT), a reduction of 1c/L from February.

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 March creamery milk, based on delivered constituents will be 55.24c/L.

Tirlán chair John Murphy said that while markets are "relatively stable", that the milk price "required a re-alignment" this month 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 on the potential impact of tariffs in the coming months," Murphy said.

The board of Tirlán has said it will continue to monitor developments on a monthly basis.

Tirlán milk price follows an announcement from Dairygold to hold its price at 50c/L. This price is based on standard constituents of 3.3% protein and 3.6% butterfat, including sustainability and quality bonuses, and VAT.

The board of Lakeland Dairies has also decided to hold its milk price for March supplies, at a base price of 48.75c/L (at 3.6% butterfat and 3.3% protein) n the Republic of Ireland (ROI).

In Northern Ireland, a base price of 39.8p/L will be paid for milk supplied in March which is inclusive of the 0.5p/L Sustainability Incentive Payment. The base price for Northern Ireland suppliers has also been held from last month.

These prices follow an announcement by Kerry Creameries last week for a leading payment for 2024, confirming it will pay an additional 0.88c/L. According to Kerry, the total payment amounts to over to €10 million.