Dairygold announce bonus and details of three-year fixed price milk scheme

DAIRYGOLD has approved the payment of a year-end milk bonus for members and sanctioned the implementation of a new fixed milk price scheme.

In a statement, the cooperative announced that its board had sanctioned the payment of a 0.5 cent per litre bonus, including VAT, on all milk supplied by members during the 2019 calendar year. The bonus payment will be made in February with the January milk payment.

Commenting on the bonus payment, Dairygold chairman John Gorman said it reflected the company’s positive performance over the course of last year.

“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-0perative with a good 2019 performance we are happy to reflect that upturn directly in the form of a milk price bonus,” said Mr Gorman.

Meanwhile, as has been the past four years, Dairygold is offering its milk suppliers the opportunity to avail of the fixed milk for a threeyear period from March 1 to November 30, 2022.

The company 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,” read the statement.

“Application forms will be sent to milk suppliers shortly,” it concluded.