Carbery today (Thursday, March 19) confirmed that it will maintain its milk price for February and also continue with a market support payment.

This payment is worth 2.5c/L to shareholders.  

If this decision is replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average milk price of 39.10c/L.

This is inclusive of VAT, the 0.88c/L SCC (somatic cell count) bonus and FutureProof sustainability bonus. 

According to the Co. Cork headquartered company, which is owned by its 1,220 farmer suppliers, international dairy markets "have shown some signs of improvement in recent weeks".

A spokesperson for Carbery said that there had been "modest strengthening across key commodity prices".

"We have again agreed this market support payment to help bridge the pricing gap for farmer shareholders for February milk," the spokesperson added.

Ealier this week the Global Dairy Trade (GDT) index recorded a slight increase to continue its upward trend since the start of the year.

After the latest trading event (Tuesday, March 17), the index increased by 0.1%, reflecting an average price of €3,772 per metric tonne (mt).

The rise in the index is notably smaller than the increases seen since January 6.

Milk price

In general milk prices for February in Ireland have followed a similar trend since January.

Tirlán has said it will pay a total of 41.08c/L, including VAT, for milk supplied in February.

Separately Kerry Dairy Ireland confirmed that the milk price return inclusive of VAT, quality and sustainability bonuses is 43.30c/L.

According to the board of Dairygold and "attainable" milk price for its suppliers for February is "41.2c/L at standard constituents".

Meanwhile Lakeland Dairies said its minimum base price for milk will average 37.25c/L and the co-op will also pay 5c/L on all qualifying litres for the out of season bonus.

The minimum base price for milk in NI the co-op will pay is 31.05p/L.