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Carbery has cut its base milk price by 1.5c/l. However, this has been offset by an increase of 1.5c/l from the Carbery stability fund.
This means that the Carbery March milk price has remained unchanged at 30.74c/l, excluding VAT.
This brings the total stability fund to 2c/l, which will result in a VAT-inclusive price of 32.4c/l when replicated across the four co-ops - Bandon, Barryroe, Lisavaird and Drinagh - a spokesperson for Carbery said.
The spokesperson added: “The restrictions caused by COVID-19 have had a serious impact on global dairy markets.
"We are closely monitoring the markets and the difficulties in other countries on demand and milk supply."
Dairygold
Dairygold has announced it is cutting its base milk price for March by 2c/l to 28.1c/l excluding VAT.
Dairygold said that this equated to a farmgate milk price of 33.8c/l based on average March milk solids and the March early calving bonus.
The processor said that COVID-19 had fundamentally distorted the global demand for dairy products.
"The food service industry which supplies hotels, restaurants, the ready meals sector and convenience foods outlets closed almost overnight, which has resulted in an immediate knock-on price impact for milk, cream and cheese," they said.
"Dairy ingredient and commodity market returns, particularly milk powder returns, have fallen very significantly."
They continued by promising that everything that could be done was being done to ensure the continuity of all its processing operations.
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