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On average, Irish milk prices have lifted by 1.5c/l from May as processors have increased milk price in June, July and August on the back of rising global demand and steady supplies.
About 35% of the national supply is delivered from June to August and the milk price rise from 28.2c/l excluding VAT at base solids in May has lifted to 29.7c/l excluding VAT in August.
This rise from €3.97c/kg milk solids (MS) to €4.18c/kg MS means a total lift in output price of about €42m, shared between 18,000 dairy farmers.
For August milk price, which was set in the last week, most milk buyers lifted between 0.5c/l and 1c/l, with the west Cork co-ops (Drinagh, Barryroe, Bandon and Lisavaird) all increasing milk price by 0.5c/l. Kerry, Glanbia, North Cork, Centenary Thurles and Arrabawn also increased August milk prices.
It means the west Cork co-ops top the August league, paying just shy of 32c/l excluding VAT at base solids, with Glanbia, Centenary Thurles and Dairygold all scraping it out at the bottom paying 29c/l excluding VAT at base solids.
For the August milk cheque alone, comparing like with like excluding VAT, there is a difference of €1,200 in the August milk cheque for the typical supplier between the top-paying west Cork co-ops and the Division three players.
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