Aurivo holds March milk price, following 8 months of consecutive increases | eDairy News

Aurivo holds March milk price, following 8 months of consecutive increases

The board of Aurivo recently met to decide on the milk price, which has remained unchanged from the price paid by the processor for February milk.

The processor’s decision to hold its milk price comes after eight months of consecutive price increases. The last of these saw an increase of 1.5c/L for February milk.

Aurivo joins Kerry, Glanbia and Lakeland Dairies in the growing number of co-ops that have decided to hold their milk prices for March supplies.

Last week, Kerry announced that its suppliers will continue to be paid 31c/L, including VAT, for March milk. This is based on milk supplied at 3.3% protein and 3.6% fat.

This is the second consecutive month that Kerry has decided to hold its milk price, with the most recent milk price increase of 2c/L coming in January.

Meanwhile, Lakeland Dairies also announced its decision to hold its milk price for March supplies, with a price of 31.28c/L including VAT.

The most recent milk price increase from Lakeland Dairies came in January, when an increase of 1c/L was announced.

Glanbia was the first processor to announce its milk price for March supplies. Glanbia Ingredients Ireland (GII) held its base price for March at 31c/L, including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.

This is the second consecutive month the processor has decided to hold its milk price at 31c/L, with the last milk price increase of 1c/L coming in January.

Results From The Latest GDT Auction

Yesterday, the results of the latest Global Dairy Trade event were announced; the price index for dairy products jumped by 3.1%, following on from an increase of 1.6% at the previous auction.

Skimmed Milk Powder (SMP) recorded the largest increase, climbing by 7.1%. Whole Milk Powder (WMP) also saw its price index rise by 3.5%.

An increase of 2.9% was seen in the Butter price index, while the Cheddar price index rose by 6%.

Lasting for just over two hours; a total of 541 bidders were registered. There were 130 winning bidders across the 14 bidding rounds.

 

Source: Agriland

Link: http://www.agriland.ie/farming-news/aurivo-holds-march-milk-price-following-8-months-of-consecutive-increases/

 

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