IFA claims co-ops have undershot milk price rise due for February
The farm group says Glanbia and Kerry have jumped the gun on the Irish Dairy Board index, due out in the next few days. Based on spot quotes from Holland and domestic price trends for December and January, the IFA was expecting a 3c/l increase to 33c/l + VAT (34.7c/l including VAT).
Glanbia has increased its milk price by 1.44c/l + VAT in both January and February. Kerry gave no increase in January, but has given 2.85c/l + VAT in February. Both Glanbia and Kerry have now lifted their price to 31.36c/l plus VAT for February. The IFA argues this price is almost 1.5c/l short.