News milk prices
Higher milk prices in Ireland and New Zealand
Synlait, one of the largest dairy processors in New Zealand after Fonterra, has raised its milk price forecast for the current season. The milk price has also started to rise in Ireland.
The dairy prices on the world market are doing better than expected, according to the dairy cooperative, which mainly operates on the South Island of New Zealand. Synlait also has confidence in the market for the coming months, CEO Leon Clement said. The main reason for this is that supply and demand are almost in balance.
That is why Synlait has decided to increase the milk price by $0,25 to $7,25 per kilo of milk solids (approximately 11,5 liters of milk). This is the highest level since 2014. The other major processors like, Fonterra and Westland, were already positive about the milk price for the current season ending in June at an earlier stage.
Elevations in Ireland
Closer to home, the milk price is 'finally' picking up in Ireland as well. Several cooperatives such as Dairygold, Aurivo and Glanbia recently increased the milk price for December. In the case of the largest cooperative Glanbia, which cooperates with A-ware, this equates to a milk price of 30 euro cents per litre, with 3,6% and 3,3% protein. This amount can increase slightly through bonuses and premiums.
In Ireland, dairy farmers have been campaigning for higher payout prices for some time now. They feel that they have been neglected, because milk prices elsewhere in Europe are considerably higher.
Wouter Job
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