Carbery is the latest dairy processor to announce a cut to August’s base milk price, with the reduction being 1.43c/l excluding VAT.
Should the processor’s price decrease be replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, a base price of 44.31c/l excluding VAT will be paid to suppliers for last month’s milk.
A 0.5c/l SCC bonus and 1.25c/l FutureProof sustainability bonus will also be paid to eligible suppliers.
“Driven by an increase in global supply combined with weakening consumer sentiment, dairy markets have taken a sharp turn downwards, with butter and cheese prices particularly impacted,” a spokesperson for Carbery said on announcing August’s price.
The co-op stated that the global dairy market outlook remains “challenging” and that its board will assess the impact of this forecast on a monthly basis.
“We will combine this with optimising business performance and tightly managing operating costs to ensure we can deliver the best value possible from the market for our shareholders,” the spokesperson added.
Carberry follows Lakeland Diaries, Dairygold, Kerry, Tirlán, Arrabawn and Aurivo in reducing August’s base milk prices, with Dairygold announcing the most severe month-on-month drop at 2.85c/l excluding VAT.
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