Carbery announces increase in base milk price for March
Carbery Group has announced an increase in its base milk price for March supplies.
The processor has announced an increase in its base milk price of 3c/L.
As well as that, Carbery also announced that it will make a payment of 1.5c/L from its Stability Fund.
Carbery said that if its base milk price increase is replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh, and Lisavaird, this will result in an average milk price of 40.80c/L, including VAT, a 0.5c/L somatic cell count (SCC) and the FutureProof sustainability bonus.
Based on actual milk solids, the price paid for March milk will be 45c/L, including VAT, the processor said.
A spokesperson for Carbery Group said: "We are not seeing the improvement in dairy markets that we would like, and supply continues to impact on prices being delivered.
"However, we recognise the importance for our farmer shareholders of delivering the maximum milk price, especially as we head into peak milk production months," the spokesperson added.
"The strength of our broader business has allowed us to increase our milk price above what markets are delivering.
"In addition to maximising the milk price, we are making a contribution from the Stability Fund, recognising that our shareholders face continuing pressure from rising farm input costs driven by global geopolitical and economic instability," the spokesperson said.
Other processors
A number of other dairy processors have opted to increase their price offering for March milk.
The Dairygold board said last week that it has increased the March quoted milk price by 1c/L to 37c/L.
This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments and VAT.
The March milk price from Dairygold equates to an average farm gate milk price of 42.3c/L for the month, according to the processor.
Meanwhile, Kerry Dairy Ireland said, also last week, that it would increase its base milk price by 3c/L, including VAT, for March milk supplies.
Kerry Dairy Ireland said its milk price for March supplies is 37.5c/L, VAT inclusive, including applicable quality and sustainability bonuses.
