Kerry Group has become the latest processor to reveal its February milk price, announcing its decision to lift the price for last month’s supplies.
This makes Kerry the third processor, following on from price announcements last week from Lakeland Dairies and Glanbia.
In a brief statement this morning (Monday, March 15), a spokesperson for the processor said:
Our Kerry Group base price for February milk supplies will increase by 1c/L to 33c/L including VAT at 3.30% protein and 3.60% butterfat.
This translates to 36.266c/L including VAT at EU Standard Constituents 3.40% protein and 4.20% butterfat, the spokesperson added.
“Based on Kerry’s average milk solids for February, the milk price return inclusive of VAT and bonuses is 38.32c/L,” the group representative said.
Continuing, the spokesperson claimed: “In addition, our Forward Price Scheme offers last week were widely welcomed, with milk suppliers availing of the opportunity to secure a portion of their 2021 and 2022 milk supply at 34.8c/L including VAT [for the period March to October 2021] and 34.5c/l including VAT [for the period March to June 2022] at 3.30% protein and 3.60% butterfat.”
Other processors
By comparison, last week Lakeland announced that a base price of 33.34c/L including VAT/lactose will be paid for milk supplied in February. This is an increase of 1c/L on January. The normal out of season bonus of 5c/L applies for February.
A special unconditional Lakeland bonus of 1c/L plus VAT will also be paid on all February milk – and this was also paid for January, December and November milk.
Meanwhile, Glanbia Ireland said it will pay a base milk price for February of 32.68c/L including VAT for creamery milk at 3.6% fat and 3.3% protein.
Farmer members will also receive a 0.42c/L including VAT payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.
This means that Glanbia will pay its member manufacturing milk suppliers 36.1c/L including VAT for February creamery milk supplies at 3.6% butterfat and 3.3% protein.