Carbery has increased its base price for the month of January by 1c/l.

The Cork-based co-op is currently paying suppliers a base price of 34.76c/l, excluding VAT.

This is the second consecutive rise and follows a 1c/l rise for December supplies.

This price is not including a 2c/l bonus from the co-op's stability fund, a 0.5c/l SCC bonus and a future-proof sustainability bonus.

The future-proof bonus payment for qualifying suppliers was paid with the December milk payment, representing a maximum of 1c/l for suppliers who met all criteria.

Speaking about the market, a Carbery spokesperson said that dairy markets are beginning to find balance after the turbulence of 2023 and with global milk supplies decreasing.

"Forecasts remain unpredictable on the demand side, so we will continue to monitor markets closely to determine future pricing," they said.

Competitors

Earlier this week, Lakeland Dairies announced a 1.67c/l, excluding VAT, rise for January supplies.

This brings the co-op’s base price to 37c/l, excluding VAT, at 3.6% fat and 3.3% protein.