Kerry the latest co-op to increase August milk price
Kerry has increased its milk price for August supplies of milk by 2.5c/L, a spokesperson has confirmed to Agriland.
This increase will see member suppliers receive 25c/L, including VAT, for August milk.
Kerry is the third co-op to increase the milk price this week, following Glanbia and Lakeland Dairies with its increase.
Yesterday, Lakeland Dairies announced it was to increase its milk price for August supplies of milk by 1c/L.
This second consecutive increase in milk price from Lakeland will give member suppliers a base price of 25c/L, including VAT, for August milk.
Last month Lakeland increased its milk price by 1c/L and it was the first co-op to increase the milk price in months.
Meanwhile, Glanbia member suppliers will receive 25c/L for August supplies, which includes a 2c/L Glanbia Co-operative Society support payment to its members.
Glanbia Ingredients Ireland (GII) has increased its base price by 2c/L to 23c/L including VAT for manufacturing milk at 3.6% fat and 3.3% protein.
Henry Corbally, Glanbia Chairman, said that there has been a welcome improvement in prices for dairy products on global markets.
“The Board will continue to reflect market returns on a monthly basis,” he said. The remaining co-ops are set to set the milk price for August supplies in the coming days.