Kerry sets milk price for January supplies
Kerry Group has set its milk price for supplies received in January, deciding to hold its offering from last month.
The group has set a price of 31.5c/L including VAT. Based on January milk solids, the price return is expected to be 36.1c/L, the processor said.
Last month, Kerry offered the same base price, along with a one-off ‘goodwill payment’ agreed with Kerry Co-Operative Creameries Limited in relation to Kerry Milk Supply Contract payments.
That payment was paid in the middle of last month, and was calculated based on average annual milk supply for 2015 to 2019 inclusive.
On Monday of this week, February 10, Glanbia became the first processor to announce its January offering.
In a statement, Glanbia Ireland said it will pay a base milk price for January of 31c/L including VAT for creamery milk at 3.6% fat and 3.3% protein.
This represents an increase of 1c/L from the December base price.
Glanbia’s farmer members will also receive a 0.42c/L payment, inclusive of VAT, from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.
This new payment, which will be adjusted to reflect the constituents of milk supplied, will be paid on all milk supplied by co-op members in 2020, the processor says.