Tirlán has today (Tuesday, June 18), confirmed that it will increase its milk price for May supplies by 0.5c/L.
The processor will pay a total of 42.08c/L, including VAT, for May creamery milk supplies at 3.6% butterfat and 3.3% protein.
The May milk price consists of the following:
- Base milk price of 41.58c/L, including VAT, an increase of 2c/L from April;
- 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.
Tirlán
The actual average price paid by the processor for May creamery milk, based on delivered constituents, will be 45.37c/L, including VAT.
“There has been a welcome increase in returns for some dairy products in the past month, led by butter and cheese and driven by reduced milk supply volumes in some regions.
“However, there is [uncertainty] on the impact of higher prices on consumer demand over the coming months.
“The board will continue to monitor the dairy market on a monthly basis,” according to Tirlán chair, John Murphy.
May milk price
Meanwhile, the overall quoted milk price to be made to Dairygold suppliers will see a net increase after the processor announced a price rise of 2c/L.
As Dairygold’s weather/fodder relief payment – paid at a rate of 1c/L for April milk – is no longer in effect – the net increase is 1c/L, for a quoted price of 42c/L.
This is based on standard constituents of 3.3% and 3.6% butterfat, and includes VAT and sustainability and quality bonuses.