Glanbia Ingredients Ireland (GII) has increased its base price for January by 1 cpl to 31c/L including VAT for manufacturing milk at 3.6% fat and 3.3% protein.
However, Glanbia Chairman Henry Corbally said that there remains significant uncertainty in the global dairy market outlook.
“The Board will continue to monitor markets on a monthly basis,” he said.
Last week, Ornua has announced a 1.6 point increase in its Product Purchasing Index to 105.4 points, which it stays is equivalent to a milk price of 29.8c/L + VAT (31.4c/L including VAT).
ICMSA Dairy Committee Chairperson, Gerald Quain, said ICMSA is anticipating a milk price rise as co-op boards meet to set price for January supplies.