Co-op cuts buck global dairy market trend

As world dairy markets continue to recover, the industry in Ireland has gone in the other direction, cutting peak supply milk prices.

The biggest buyer, Glanbia, will pay only 23 cent per litre (cpl) including VAT for May manufacturing milk, compared to 24c for April.

The May price includes 2c from Glanbia Co-op, and a 1c once-off bonus from Glanbia Ingredients Ireland (GII), which includes an Ornua bonus.