Dairygold Co-op has become the latest processor to drop the milk price for February supplies in what has been a gloomy few days for Irish dairy farmers.

The co-operative has today decided to reduce the price for milk supplied in February by 2c/L bringing the price to 34c/L including a 0.5c/L quality bonus and VAT.

This drop follows five consecutive months of Dairygold holding its previous price of 36c/L, which also included the 0.5c/L quality bonus.

Dairygold has become the fourth processor to lower its February price, following on from Lakeland Dairies, Kerry and Glanbia.

On Tuesday, Lakeland announced that its milk price will be reduced by 1c/L to 34.56c/L (including VAT and lactose bonus) for February.

The reduction in the base milk price “reflects extremely challenging market conditions including lower returns for powders and butter in recent months”, according to the processor.

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