Tirlán Announces Increased Milk Price for January Supplies

The new total stands at 41.08c/L, inclusive of VAT, for creamery milk supplies boasting 3.6% butterfat and 3.3% protein.

Breaking down the January milk price, it comprises:

• Base milk price of 36.58c/L, including VAT, marking a 1c/L increase.
• A Seasonality Payment of 4.0c/L, including VAT, applicable to all creamery milk volumes supplied in January meeting quality criteria.
• Sustainability Action Payment of 0.5c/L, including VAT, for qualifying suppliers.
• All these components will be adjusted to align with the actual constituents of the delivered milk. Tirlán's total price for January creamery milk, calculated based on LTO constituents of 4.2% butterfat and 3.4% protein, stands at 44.63c/L, including VAT.

Additionally, Tirlán confirmed an unconditional Seasonality Bonus Payment rate of 4c/L for January, with 3c/L slated for February 2024. These unconditional seasonality bonus payments apply to non-contracted milk volumes meeting quality criteria over the winter months.

The January payment also includes a 4c/L Seasonality Payment, which recognizes the elevated costs associated with milk production during this time of the year. Tirlán Chair John Murphy expressed satisfaction in raising the base milk price for the third consecutive month, reflecting recent positive developments in global markets. While acknowledging sluggish global milk supply growth in 2023, Murphy emphasized the need for close monitoring due to geopolitical concerns and economic weaknesses in some markets. Additionally, he expressed gratitude to suppliers who ensured the availability of quality milk to consumers during the winter period.