Tirlán has announced that it will pay 37.99c/l, excluding VAT, for May creamery milk supplies at 3.6% fat and 3.3% protein.
This price remains unchanged from April's milk price.
May's milk price includes a sustainability action payment of 0.5c/l to all qualifying suppliers.
As per previous policy, market support will apply to fixed price volumes where the scheme price is below 37.5c/l, excluding VAT.
Tirlán chairJohn Murphy said: “Given the challenges on farm, the board has decided to support our base price by 3c/l for May in order to maintain our overall milk price for the month."
Rising interest rates
He added that the global inflationary environment and rising interest rates continue to have an impact on buyer behaviour and market sentiment.
"We note a welcome stabilisation in the price of certain dairy products, but other categories remain more challenging. The board will continue to review market developments on a monthly basis," he said.
Meanwhile, Dairygold also maintained its milk price on Friday and announced it would pay farmers 38.09c/l, excluding VAT, for May milk.
On Thursday, Kerry Group announced that it will pay farmer suppliers 35.07c/l, excluding VAT, for May milk.
Its May price is down just under 1c/l from the 36.02c/l, excluding VAT, that farmers received for April milk.
On Tuesday 13 June, Lakeland Dairies announced it will pay farmers 35.40c/l, excluding VAT, for May milk.
This is a cut of almost 1.5c/l on the price farmers received for their April supplies.