Kerry cuts milk price for July supplies
Kerry Group has become the latest processor to announce its milk price for July, revealing a reduced figure on the previous month.
The southern processor has set a base price for July milk supplies of 29.5c/L including VAT.
According to a spokesperson for Kerry, based on average July milk solids, the price return – including VAT and bonuses – is 32.056c/L.
Yesterday, Tuesday, August 13, Lakeland Dairies announced a reduction of 0.5c/L for its July milk price.
In the Republic of Ireland, a price of 30.78c/L including VAT has been agreed for milk supplied in July.
In Northern Ireland, a price of 25.25p/L will be paid for July supplies.
Commenting on the price, the co-op said:
The continued uncertainty in the global dairy markets has manifested itself more sharply in the last month with butter prices, in particular, coming under severe pressure as demand slows.
Meanwhile, on Monday, Glanbia announced a cut of 1c/L for its July price.
Glanbia will pay its member milk suppliers 29.5c/L including VAT for July manufacturing milk supplies.
Glanbia Ireland (GI) will pay a base milk price for July of 29c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
Glanbia Co-op will also make a support payment of 0.5c/L including VAT to members on July supplies, the company added.