Kerry ups its July milk price by 1.5c/L

Kerry has become the latest processor to announce a milk increase for July supplies; it decided to up its base price by 1.5c/L.

This means that suppliers of the processor will receive a price of 34.5c/L including VAT for milk manufactured last month.

This announcement represents Kerry’s third consecutive monthly milk price increase, following on from 1c/L increases announced for both May and June milk.

Prior to that Kerry hadn’t altered its milk price since the first month of the year, when it increased its the price by 2c/L.

Last week, Glanbia and Lakeland Dairies became the first processors to announce milk price increases for manufacturing milk at 3.6% butterfat and 3.3% protein.

A 1c/L increase announced by Glanbia means that its suppliers will be paid 34c/L including VAT for milk produced during the seventh month of the year.

This is the third consecutive monthly increase of 1c/L announced by Glanbia. Prior to increasing its May milk price, the processor had held its price at 31c/L for three months in a row.

Commenting on the announcement, the Chairman of Glanbia, Henry Corbally, said: “We are pleased to be able to reflect continuing positive dairy market performance, particularly with strong demand for butter and good demand for cheese.

“However certain parts of the dairy market continue to be challenging, especially powders, and the Glanbia Ireland board will continue to monitor market developments on a monthly basis.”

Meanwhile, Lakeland Dairies has also announced an increase of 1c/L for July supplies – bringing its base price to 34c/L including VAT.

Similar to Glanbia Ireland, this is the third consecutive monthly increase announced by Lakeland Dairies; it also increased its May and June milk price by 1c/L.

Other processors are expected to announce their milk July milk prices in the coming days.