Tirlán confirm August milk price 33.08 cpl - Kilkenny Farming

Tirlán will pay a total of 33.08 cent per litre (cpl) (including VAT) for August creamery milk supplies at 3.6% butterfat and 3.3% protein.

The August milk price of 33.08 cpl (including VAT) is down 2.5 cpl from July and consists of the following:

  *   Base milk price of 32.58 cpl (including VAT);
  *   Sustainability Action Payment of 0.5 cpl (including VAT) to all qualifying suppliers.

The base price and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The Tirlán total price for August creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 36.00 cpl (including VAT).

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Tirlán Chairperson John Murphy said: "Inflation, higher interest rates and ongoing destocking continue to affect buyer behaviour. Strong domestic milk production in China and weaker economic data from that region has also negatively impacted market sentiment. The margin pressures facing milk suppliers in most parts of the world are likely to curb global milk supply, although the timing remains uncertain. Having supported milk price strongly through the peak milk supply months, we will continue to focus on providing as much of a buffer as possible against very weak markets. The Board will continue to review developments on a monthly basis."