Dairygold Keeps Milk Price Steady; Approves Year-End Payments

The board of Dairygold Co-Operative Society Limited has revealed its decision to maintain the current milk price for December. The quoted price remains at 50c/L, based on standard constituent standards of 3.3% protein and 3.6% butterfat, a figure inclusive of sustainability, quality bonuses, and VAT.

For December, the farm gate milk price reaches an average of 64.8c/L, based on milk solids achieved by Dairygold's suppliers. When based on EU standards of 3.4% protein and 4.2% butterfat, the equivalent milk price stands at 54.5c/L, also including VAT.

A spokesperson for Dairygold commented on the current state of dairy markets, noting a balanced return in December amid seasonally subdued demand and a generally flat global milk supply.

The board has also sanctioned year-end payments to its contracted suppliers. Milk suppliers are set to receive an additional 0.5c/L including VAT on their 2024 supply, while grain suppliers will be compensated with an extra €3 per tonne, excluding VAT, excluding contracted malting barley and beans.

Dairygold emphasizes its commitment to providing its suppliers with the best possible prices, aligning with its strategy to maximize farmer income.

Additionally, the board is engaging with its membership over recent changes to the loyalty reward scheme, acknowledging both positive feedback and some concerns regarding elements of the reward scheme. Dairygold plans further discussion with its members and internal committees to address these issues.