Dairygold increases May milk price
Dairygold has become the latest co-op to increase the milk price by 1c/litre. For milk supplied in May at 3.3% protein and 3.6% fat, the base price is 30.83c/l (ex VAT) which includes a 0.5c/l quality bonus.
With only LacPatrick left to set a price, Dairygold and all other co-ops have increased the milk price for May by 1c/l.
Glanbia, Lakeland and the Carbery Group all increased their respective prices by 1c/l last Tuesday.
The latest Ornua Purchase Price Index (PPI) rose by 1.8% in May, resuming the growth trend stalled since the start of this year.
The PPI value now stands at 106.8, a level not seen since the autumn of 2014. This means the commodities exported by Ornua are returning a farmgate milk price of 30.3c/l (excluding VAT).