Kerry Dairy Ireland, the dairy division of Kerry Group, has today (Monday, September 16) confirmed the milk price it will pay to farmers for supplies made in August.
The processor said that the milk price for August is 45.25c/L, including VAT, at constituents of 3.3% protein and 3.6% butterfat.
This marks an increase on the price for July milk, which was 44c/L and from the June price of 42.5c/L.
At EU standard constituents of 3.4% protein and 4.2% butterfat, the August price translates to 49.59c/L.
Based on Kerry’s average milk solids for August, the milk price return inclusive of VAT and bonuses is 51.81c/L
In a statement, Kerry Dairy Ireland said that “supply side dynamics continue to bolster dairy markets with milk volumes across major exporters continuing to fall short of projection”.
Last week, Lakeland Dairies also confirmed that would increase the price paid to farmers for milk supplied in August.
The board of the processor has decided to increase its price, offering 46.5c/L at standard constituents at 3.6% butterfat and 3.3% protein.
This figure is inclusive of a 0.5c/L Sustainability Incentive Payment.
The base price for August reflects an increase of 1.25c/L from last month’s price of 45.25c/L.
In Northern Ireland, a base price of 38.3p/L will be paid for milk supplied in August, which is inclusive of a .05p/L Sustainability Incentive Payment.
The base price has increased by 1p/L from last month’s price.
Commenting on its latest price, Lakeland said: “Global dairy markets are positive at present. As we enter the crucial demand period of quarter of 2024 and quarter one 2025 and, against a backdrop of muted milk supplies for the year, this is supporting global markets.