{"id":619433,"date":"2021-06-30T06:20:00","date_gmt":"2021-06-30T05:20:00","guid":{"rendered":"https:\/\/www.agriland.ie\/?p=619433"},"modified":"2021-07-28T14:51:45","modified_gmt":"2021-07-28T13:51:45","slug":"milk-price-tracker-prices-increase-as-global-milk-markets-remains-strong","status":"publish","type":"post","link":"https:\/\/lightsail.agriland.ie\/farming-news\/milk-price-tracker-prices-increase-as-global-milk-markets-remains-strong\/","title":{"rendered":"Milk Price Tracker: Prices increase as global milk markets remain strong"},"content":{"rendered":"\n

The latest Milk Price Tracker<\/strong> \u2013 brought to you by Agriland<\/em> and the Irish Creamery Milk Suppliers\u2019 Association (ICMSA) \u2013 details milk prices from the most significant Irish dairy co-ops for the month of May.<\/p>\n\n\n\n

For each co-op, a green arrow indicates an increase in base milk price (compared with the previous month); a blank space signifies no change; and a red arrow indicates a drop in base milk price.<\/p>\n\n\n\n

It is important to note that the cent-per-litre (c\/L) milk prices \u2013 shown in the table below \u2013 are calculated using the widely-accepted milk pricing system (an approach employed by most Irish co-ops).<\/p>\n\n\n\n

It should also be noted that, when calculating the base prices (on a c\/L basis), we have used a fixed mass density factor \u2013 to convert from kilograms (kg) to litres (L).<\/p>\n\n\n\n

The conversion factor used is 1.03. In other words, 1L of milk corresponds to 1.03kg of milk.<\/p>\n\n\n\n

Moreover, the Irish c\/L milk prices \u2013 quoted in the table \u2013 are base prices at the \u2018standard\u2019 fat and protein percentages cited by the vast majority of co-ops (3.3% protein and 3.6% fat).<\/p>\n\n\n\n

We also include base prices at \u2018standard\u2019 European criteria (3.4% protein and 4.2% fat).<\/strong><\/p>\n\n\n\n

Furthermore, there is a column detailing what we describe as the \u2018maximum attainable price\u2019 \u2013 which is based on consistent levels of 3.3% protein and 3.6% fat.<\/p>\n\n\n\n

May 2021 Prices<\/h2>\n\n\n\n

The milk prices in this table (below) are those quoted by co-ops for the month of May (2021).<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

All bonus and penalty payments are based on manufacturing milk. The VAT rate changed from 5.4% to 5.6% as per Budget 2021.<\/p>\n\n\n\n

May\u2019s bonuses and penalties<\/h2>\n\n\n\n

Further details of bonuses and penalties for May\u2019s Milk Price Tracker can be found here: Click here<\/a>.<\/p>\n\n\n\n

WITH REGARD TO MILK PRICE TRACKER (ABOVE), PLEASE SEE THESE EXPLANATORY NOTES:<\/strong><\/p>\n\n\n\n