Kerry Group has become the latest processor to set its milk price for May supplies – revealing an increase for last month’s offering.

In a short message to suppliers today (Wednesday, June 16), the group said:

“Our May base milk price will increase by 1c/L to 35c/L including VAT at 3.30% protein and 3.60% butterfat.”

This translates as 38.44c/L including VAT at EU standard constituents, 3.40% protein and 4.20% butterfat.

“Based on Kerry’s average milk solids for May, the milk price return inclusive of VAT and bonuses is 37.62c/L,” a group spokesperson said.

Kerry Group is the third processor to announce its May milk price, following on from Glanbia on Monday (June 14) and Lakeland Dairies last Friday (June 11).

Glanbia will pay its member milk suppliers 35.6c/L including VAT for May creamery milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) will pay a base milk price for May of 35.18c/L including VAT for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1c/L from the April base price, the processor said.

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’.

The GI base price and co-op “Share of GI Profit” payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The Glanbia milk price for May creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 38.73c/L, it was added.

Meanwhile, Lakeland revealed that, in the Republic of Ireland, it has increased its base milk price by 1.66c/L to 36c/L, including VAT, for milk at 3.6% fat and 3.3% protein.

This 1.66c/L increase in the base milk price “replaces the unconditional bonus which has been paid successively over several months to date”, a spokesperson for the co-operative said.

In Northern Ireland, Lakeland Dairies has also replaced its unconditional bonus with an increase of 1.2p/L in its base milk price to 29.2p/L.