Glanbia announces rise in milk price following Kerry Co-op hike

Glanbia has announced a May milk price lift of 1.9c/l to 35.3c/l plus Vat; earlier Kerry Co-op had lifted their May milk price 2.86c/l to 36.26c/l plus VAT.

Welcoming the move, IFA dairy chairman Kevin Kiersey called on all co-ops to add at least 2c per litre to their milk prices. He predicted that global dairy market returns would remain at relatively high levels, comfortably justifying a significant milk price increase by all co-ops.

Dairy market indicators remain positive for June, says ICOS, the umbrella body for Irish co-ops. This is due to weak European production. ICOS says that the peak European production will be reduced compared to last year.