Dairygold sets minimum price for beans for 2024

Dairygold has set a minimum price for beans for the 2024 season. The co-op made the announcement at its annual tillage conference on Friday 12 January.

The co-op will pay a minimum price of €250/t for beans delivered in harvest 2024 at a moisture content of 20%.

If markets move up, then Dairygold will increase this price. However, if markets go down farmers will be paid the minimum price of €250/t.

This offer takes a huge amount of price risk out of growing the crop.

Supporter of native grain

The co-op has been a big supporter of native grain and protein over the years and has proven this by providing a minimum price in recent years.

Last season’s minimum price of €285/t saw farmers work out very well, as prices at harvest dropped to around €250/t, so farmers who had locked into this price gained hugely.

Farmers locking into this price must purchase their seed from Dairygold. Growers will also receive the protein payment from the Department of Agriculture.

This year, the budget for the Protein Aid Scheme was topped up and growers received €583/ha in payment for beans. This payment is likely to be lower in 2024.

Dairygold sources locally sourced beans to include in its Irish animal feed. The co-op offers its customers feed made entirely of Irish grown grain and protein.

For example, this feed includes Irish wheat, barley, oats and beans. It does not include any imported grains.

Head of agri business at Dairygold Liam O’Flaherty explained that native grain is a key and important point of the rations which Dairygold sells.

“Over the past number of years, we have been promoting the growing of beans. In 2023, we actually took in the highest quantity of beans ever.

“Every year we offer a minimum contract price and today we’re launching that. The minimum contract price for 2024 will be €250/t,” Liam announced.

Minimum price offers for beans

Non-contracted beans prices