Dairygold has, today (Thursday, February 17th, 2022) confirmed that it has increased its January 2022 milk price by 1c/L.
The milk processor will pay 41.5c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
In addition, it will pay January early calving bonus of 3.0c/L (excl. VAT) on milk supplied in January in accordance with milk quality criteria.
Dairygold January 2022 milk price
In a statement to That’s Farming, a spokesperson for the milk processor said:
“This milk price equates to an average January farm gate milk price of 51.9c/L. This is based on average January milk solids, Dairygold milk suppliers delivered.”
“The quoted milk price for January based on EU Standard constituents of 3.4% protein and 4.2% butterfat is 45.3c/L(excluding the January early calving bonus).”
A company spokesperson commented that global dairy demand “remains strong” for the foreseeable future.
They said that weakened supply is “likely” to support current prices, even allowing for significant increases in processing costs.
The spokesperson outlined that the Dairygold Board will continue to monitor markets “closely” and review milk prices on a month by month basis.
Kerry Group sets milk price
Dairygold’s announcement follows Kerry Group’s yesterday.
In a statement to That’s Farming, a spokesperson said:
“Our Kerry Group base price for January milk supplies will increase to 41c/l incl VAT at 3.30% Prot/3.60% Bfat and 44.97c/l (incl Vat) at EU Standard Constituents 3.40% Prot/4.20% Bfat.”
“Based on Kerry’s average milk solids for January, the milk price return inclusive of VAT and bonuses is 47.61c/l,” the spokesperson said.
Glanbia’s new sustainability action payment
In other dairy-related news, Glanbia Ireland has launched an €18 million annual Sustainability Action Payment.
This is part of a three-year programme to assist its 5,000 milk suppliers.
As part of this initiative, dairy suppliers will receive 0.5c/L (including VAT) through delivering specific sustainability actions.