Kerry Group holds milk price for July supplies

Kerry Group has held its milk price for July supplies of milk at 22.5c/L, including VAT, a spokesperson for Kerry has confirmed to Agriland.

The announcement comes after Glanbia, Lakeland Dairies and Arrabawn Co-op all raised their milk prices for July supplies last week.

Glanbia announced that it will pay its member suppliers 23c/L for July manufacturing supplies of milk, a 1c/L rise on the June milk price.

This price is inclusive of a 2c/L Glanbia Co-operative Society support payment to its members.

Glanbia Ingredients Ireland (GII) increased its base price by 1c/L to 21c/L including VAT for manufacturing milk at 3.6% fat and 3.3% protein.

The Board of Glanbia Co-operative Society has decided to pay its members a support payment of 2c/L (including VAT) for July manufacturing and liquid milk supplies.

Meanwhile, the board of Arrabawn Co-op met last week and decided to raise the base milk price by 1c/L.

Arrabawn also announced that it is to pay its member suppliers a support of 0.5c/L bringing the milk price for July to 24.25c/L, including VAT.

Lakeland Dairies was the first processor out of the blocks to set the July milk price. The co-op increased its milk price by 1c/L for July, giving member suppliers 24c/L for supplies.

This reflects a slight improvement in dairy market returns and a Lakeland recognition of difficult farming weather, the spokesperson for the co-op said.

Poor profitability and cash flow difficulties on farms this year were also factors to the increase in milk price.