The board of Dairygold Co-op has announced a price increase of 0.5c/l, which it says brings its base price to 32.7c/l, excluding VAT, at 3.3% protein and 3.6% fat for March milk supplies including bonuses.
In addition to this, Dairygold pays a March early calving bonus of 1.0c/l, which will be paid on milk supplied in March.
Carbery also increased its milk price by 1c/l, so the individual co-ops that supply Carbery (Lisavaird, Bandon, Barryroe and Drinagh) are all meeting and will presumably increase milk price by 1c/l also.
The Ornua purchasing price index (PPI) is up to 112.6 for March, after a relatively steady three months prior.
This converts into a farmgate equivalent of 34c/l excluding VAT at base solids when the Ornua premium is included. This price can be compared to announced milk prices.
In a statement on the release, Dairygold says overall global milk supply/dairy demand remains reasonably in balance.
Some dairy commodities, such as butter, have experienced fluctuation in prices over the past few weeks, but, in an overall context, dairy markets are reasonably stable as we head into peak milk production.
As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.
Earlier in the week, Lakeland Dairies, Glanbia, Kerry Group and Arrabawn all increased milk prices.