Kerry Group holds milk price for August

Kerry Group has held its milk price for the month of August, a spokesperson for the southern processor has confirmed.

The processor revealed that the Kerry Group base price for August milk supplies remains unchanged at 29.5c/L including VAT.

Based on average August milk solids, the price return inclusive of VAT and bonuses is 33.55c/L, the spokesperson added.

Other processors

Last week, Glanbia announced that it cut its milk price for August.

Glanbia will pay its member milk suppliers 28.5c/L including VAT for August manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) will pay a base milk price for August of 28c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.

This is a reduction of 1c/L from the July base price.

The board of Glanbia Co-op has decided to continue to make a support payment to members of 0.5c/L including VAT for last month’s milk supplies.

Meanwhile, Lakeland also announced its decision to reduce its price for last month’s milk, revealing a reduction of 0.75c/L for August.

In the Republic of Ireland, a price of 30.03c/L including VAT has been agreed for milk supplied in August. In Northern Ireland, a price of 24.50p/L will be paid for July supplies.

Commenting on the price, the co-op said: “Despite the moderation in milk supplies, the global dairy market continues to be hit by weak demand across a range of products as a result of significant Brexit trade uncertainty and US-China trade wars.

“Lakeland will continue to monitor the market closely in the coming week,” the statement concluded.

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