This is a subscriber-only article
The board of the co-op met on Friday and decided to increase its milk price by 1.5c/litre.
This means for milk supplied to the co-op in August, farmers will receive a payment of 34.15c/l (ex VAT). This includes a quality bonus of 0.5c/l.
Other co-ops
Dairygold is the latest co-op to set a price for milk supplied in August.
On Tuesday of this week, both Glanbia and Lakeland Dairies also set their August prices.
Glanbia increased its milk price by 1c/l, giving suppliers a base price of 33.11c/l, while Lakeland Dairies also increased its price by 1/cl, bringing its price to 33.47c/l.
On Thursday, Kerry upped its price by 1.5c/l to 34.06c/l.
PPI
Ornua’s purchase price index (PPI) rose for August to 111.
This is up from 110.1 in July.
A PPI of 111 is the equivalent to a farmgate milk price of 31.78c/litre (excluding VAT).
Ornua said that the August PPI reflects “higher butter and cheese returns and flat to weaker returns for powders and proteins”.
The Irish Farmers Journal reports milk price excluding VAT.
SHARING OPTIONS: