The Board of Dairygold has this week approved the payment of a Milk Bonus of 0.5 cent per litre including VAT on all milk supplied during the 2019 calendar year from its milk supplying members.
The Year End Milk Bonus payment will be made next month (February) with the January milk payment.
Speaking about the bonus, Dairygold chairman John O’Gorman, said the movements in global dairy supply and demand in recent months have created ‘a more balanced market’ with firmer returns across mainline dairy commodities, especially protein products.
“As a co-operative with a good 2019 performance, we are happy to reflect that upturn directly in the form of a milk price bonus.”
Fixed Milk Price
As has been the case for the past four years, Dairygold is once again offering milk suppliers the opportunity to avail of a Fixed Milk Price for a three-year period commencing on March 1, 2020 and ending on November 30, 2022.
Dairygold is offering a fixed milk price over the period of 31.75 cents per litre including VAT and bonus payments (Balanced Scorecard & Sustainability Bonus) at 3.3% protein 3.6% butter Fat.
When adjusted for the Society’s 2019 average annual milk solids, the price equates to 35.86 cents per litre.
Application forms will be sent to milk suppliers shortly.