Carbery has confirmed that there will be “no change” to the price it will pay farmers for milk supplied in September.
In a statement issued today (Wednesday, October 18) the company, which is owned by farmers in west Cork, said it was continuing to support milk price from its Stability Fund and is allocating 3c/L support for September milk.
It added: “If this decision is replicated across the four West Cork co-ops; Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price for September of 35.98c/L – inclusive of VAT and 0.5c/L Somatic Cell Count (SCC) bonus”.
The move by Carbery to hold its price follows the latest Global Dairy Trade (GDT) auction yesterday (Tuesday, October 17).
The GDT Price Index recorded its fourth consecutive increase – moving up by 4.3% when compared to the previous event on October 3 to 994, which has been seen as an encouraging sign.
Carbery is the latest processor to hold its milk price following in the wake of Dairygold, Lakeland Dairies and Kerry Group.
Dairygold will offer a quoted milk price of 33.5c/L, inclusive of VAT and sustainability and quality bonuses, based on standard constituents of 3.3% protein and 3.6% butterfat.
The September milk price equates to an average September farmgate milk price of 41.4c/L, based on average September milk solids achieved by Dairygold suppliers, according to the processor.
A spokesperson for Dairygold said that the global market outlook for milk has stabilized recently after several months of low demand.
Kerry Group announced a base milk price of 32c/L including a further 3c/L milk contract payment, inclusive of VAT for qualifying September supplies, representing a combined price of 35c/Lwhich is unchanged since August.
This is based on constituents of 3.3% protein and 3.6% butterfat.
The September milk price at EU standard constitutes of 3.4% protein and 4.2% butterfat is 38.44c/L.
Based on price of 34c/L at constituents of 3.6% butterfat and 3.3% protein, will be paid for September milk in the Republic of Ireland.
The base price is unchanged from the price paid in August.
In Northern Ireland, a base price of 27.25p/L will be paid for milk supplied in September and again, the base price has been held for September supplies.