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.”

Other co-ops

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.