West Cork dairy firm Carbery revenues jump 31% following 'banner year for milk prices'

Milk price increases were driven by inflation rather than production growth at the firm as milk volumes at the Carbery Ballineen plant decreased to 598m litres last year

Last year, the Carbery Group introduced the Futureproof bonus for suppliers locked into fixed milk contracts. It has paid participating farmers €3m and this is set to increase to a potential €6m in 2023.

West Cork-based international milk and cheese producer Carbery grew revenue to record levels last year on the back of bumper milk prices.

Company revenue jumped 31% to €701m, up from €535m in the previous year, as 2022 was a “banner year for milk prices”, said Carbery chairman Cormac O’Keeffe.