Tirlán September milk price 42.08 cpl

Tirlán will pay a total of 42.08 cent per litre (cpl) (including VAT) for September creamery milk supplies at 3.6% butterfat and 3.3% protein.

The September milk price consists of the following:

• Base milk price of 41.58 cpl (including VAT), a reduction of 4.0 cpl from August;
• 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 actual average price paid by Tirlán for September creamery milk, based on delivered constituents will be 53.79 cpl (including VAT).

Tirlán Chairperson John Murphy said: “Global milk supply and milk solids are tracking higher than expected with continued strong growth in September and October. European milk supply increased strongly from July into October on attractive margins and favourable weather. Unfortunately, milk supply growth is outpacing demand, which has weakened. Price for higher protein products, such as whey proteins, remain firm, but there have been sharp falls in the price of butter and cheese – two key products that are substantial drivers of milk price.

"The Co-op understands farmers’ disappointment at this sharp fall in market returns, which we are reflecting in lower farm gate milk prices. In Tirlán, we are committed to maintaining financial discipline in order that our Co-op can continue to invest for long term growth and development on behalf of Members.

"The Board will continue to monitor market developments on a monthly basis."