The Dairygold board is to offer a year-end bonus for all of its milk and grain (excluding contracted malting barley and beans) suppliers.
Milk suppliers will receive a 0.48c/l bonus, excluding VAT, on milk supplied in 2024.
Meanwhile, grain suppliers will receive €3/t, excluding VAT, on 2024 grain supply.
A spokesperson for Dairygold said Thursday’s meeting provided the opportunity to assess the society’s 2024 financial performance, which was positive.
“The board continues to ensure that the best possible milk and grain prices are paid to its suppliers throughout the year, in line with Dairygold’s everyday goal of maximising farmer income.”
December milk price
In addition, Dairygold has maintained its December milk price at 47.71c/l, excluding VAT.
This price is for standard constituents of 3.3% protein and 3.6% butterfat and includes its sustainability and quality bonuses.
The December milk price equates to an average farmgate milk price of 61.83c/l, excluding VAT, based on the average December 2024 milk solids achieved by its milk suppliers.
Based on EU standard constituents of 3.4% protein and 4.2% butterfat, the price of milk supplied in December is 52.0c/l, not including VAT.
“Dairy market returns were balanced in December, with demand seasonally quiet and global milk supply generally flat year on year,” said the Dairygold spokesperson.
Loyalty bonus
The Dairygold board also agreed to continue to engage with its membership on the recent changes to the loyalty reward scheme.
According to the co-operative, “the majority of members have reacted positively to the proposed changes". It noted concerns regarding an element of the scheme linking potential year-end milk payments to the level of purchases.
“The board and management of Dairygold are committed to the policy of rewarding milk suppliers who actively trade with the society, thus helping to support the overall business performance,” added the co-op spokesperson.
“We will engage further with our membership base, committee structure and member focus groups, to discuss this element. The feedback from these engagements will be reviewed by the board, in the near future.”
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The Dairygold board is to offer a year-end bonus for all of its milk and grain (excluding contracted malting barley and beans) suppliers.
Milk suppliers will receive a 0.48c/l bonus, excluding VAT, on milk supplied in 2024.
Meanwhile, grain suppliers will receive €3/t, excluding VAT, on 2024 grain supply.
A spokesperson for Dairygold said Thursday’s meeting provided the opportunity to assess the society’s 2024 financial performance, which was positive.
“The board continues to ensure that the best possible milk and grain prices are paid to its suppliers throughout the year, in line with Dairygold’s everyday goal of maximising farmer income.”
December milk price
In addition, Dairygold has maintained its December milk price at 47.71c/l, excluding VAT.
This price is for standard constituents of 3.3% protein and 3.6% butterfat and includes its sustainability and quality bonuses.
The December milk price equates to an average farmgate milk price of 61.83c/l, excluding VAT, based on the average December 2024 milk solids achieved by its milk suppliers.
Based on EU standard constituents of 3.4% protein and 4.2% butterfat, the price of milk supplied in December is 52.0c/l, not including VAT.
“Dairy market returns were balanced in December, with demand seasonally quiet and global milk supply generally flat year on year,” said the Dairygold spokesperson.
Loyalty bonus
The Dairygold board also agreed to continue to engage with its membership on the recent changes to the loyalty reward scheme.
According to the co-operative, “the majority of members have reacted positively to the proposed changes". It noted concerns regarding an element of the scheme linking potential year-end milk payments to the level of purchases.
“The board and management of Dairygold are committed to the policy of rewarding milk suppliers who actively trade with the society, thus helping to support the overall business performance,” added the co-op spokesperson.
“We will engage further with our membership base, committee structure and member focus groups, to discuss this element. The feedback from these engagements will be reviewed by the board, in the near future.”
Read more
Dairygold meeting 'wasn't balanced' - CEO
Dairygold addresses farmer concerns over debt levels
End-of-year bonuses worth €68m to dairy farmers - ICMSA
Lakeland announces loyalty payment with December milk price
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