Kerry Group has announced today (Friday, April 15) that it has increased its base milk price for supplies in March.

The processor confirmed a milk price of 46.5c/L – inclusive of VAT – at 3.3% protein and 3.6% butterfat.

The price paid for February supplies was 43c/L – inclusive of VAT – for milk with constituents of 3.3% protein and 3.6% butterfat.

At European standard constituents of 3.4% protein and 4.2% butterfat, this price is 50.95c/L – inclusive of VAT – Kerry Group said.

Based on Kerry’s average milk solids for March, the milk price return inclusive of VAT and bonuses is 50.57c/L.

Earlier this week, it was announced that Kerry Group and Kerry Co-op had reached agreement on the outstanding 2021 leading milk price issue.

It means that suppliers will get a payment of 0.85c/L on all qualifying 2021 milk volumes included in their March milk cheque.

In addition, Kerry Group announced that it will also pay 0.85c/L on all 2021 forward price scheme volumes “in recognition of the challenging inflationary conditions at farm level”.

GDT milk price

 On Wednesday (April 13), the board of Lakeland Dairies increased its milk price by 3.6c/L to pay 47.1c/L inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein.

On average, the Lakeland pay out in ROI will be over 50.28c/L for March milk.

In Northern Ireland, Lakeland Dairies has increased its milk price by 2.8p/L to 37.5 p/L.

On average, Lakeland Dairies will pay out over 39p/L for March milk in Northern Ireland including adjustments for constituents and quality and volume bonuses.

Glanbia also announced this week that its milk price for members increased to 47.08c/L (including VAT) for March supplies at 3.6% butterfat and 3.3% protein.

This includes a base milk price for March of 46.58c/L (including VAT), which is an increase of 5c/L from the February base price of 41.58c/L (including VAT), the company said.