West Cork October Milk Price Increase Yields 29 to 30 Cent Per Litre for First Time in 18 Months
IFA National Dairy Chairman Sean O’Leary today (Tuesday) said the announcement by Carbery that they would increase their payout to the West Cork co-ops by 1.5c/l means the co-ops would be paying 29c/l to 30c/l including VAT – making them the first of any co-ops to reach that level since May 2015.
Sean O’Leary added that the decision by Glanbia to increase the price by 2c/l to 28c/l (including VAT and a 1c/l co-op top up) also established the fact that co-ops could increase by more than 1c/l in October.
“I believe this proves that other co-ops can do considerably better than 1c/l on October milk when they meet this week to set the milk price. I would remind them that the Ornua PPI justifies at least a 2c/l increase, while the EU average dairy market returns are equivalent to a milk price of at least 30c/l,” Sean O’Leary said.