Dairygold has increased its May milk rice by 0.75cent per litre (c/l) to 33.75c/l ex-VAT at base solids (3.3% protein and 3.6% fat).
Dairygold says this will equate to an average May farmgate milk price of 36.6c/l ex-VAT at Dairygold milk solids for May.
A company spokesperson commented: “We have seen some price fluctuation in global dairy markets in recent weeks, but, overall, dairy markets remain reasonably strong against a background of milk supply and market demand being in balance.
"As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.”
Lakeland, Glanbia, Carbery and Kerry have all announced increases to May milk prices, as dairy commodity markets continue to harden.
In total for ROI milk suppliers, it will mean a €10m injection into May milk cheques.
Up to now, milk processors have been paying behind what the market is returning.
The Lakeland farmgate milk price went up 0.5c/l to 34.1c/l base price ex-VAT at 3.3% protein and 3.6% fat.
The unconditional 1c/l bonus for the last number of months was rolled into base price.
Glanbia lifted 1c/l to take it just shy of a base price of 34c/l ex-VAT.
Carbery and Kerry both announced they will be lifting milk price 1c/l. This will take Kerry to a base price of 33.3c/l.