Kerry is the latest processor to reveal that it will be increasing its milk price for milk supplied in May by 1c/L.

This increase will bring its base price to 32c/L including VAT; this milk price is based on milk supplied at 3.3% protein and 3.6% fat.

Kerry held its milk price at 31c/L for three consecutive months prior to this announcement. Its most recent milk price increase, of 2c/L, was announced for January supplies.

Lakeland Dairies increased its base price by 1c/L; its suppliers will be paid 32c/L including VAT for milk produced in May.

This is the first time that Lakeland Dairies has announced a milk price increase in three months; the most recent increase, of 1c/L, from the processor came in the first month of the year.

The processor operates within a 15-county catchment area across the northern half of the island of Ireland.

Glanbia joined Lakeland Dairies and announced a milk price increase for May supplies, rising its base price to 32c/L including VAT.

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

This milk price increase follows on from three consecutive months of the processor deciding to hold its base price at 31c/L including VAT; prior to this month, the last milk price increase of 1c/L from Glanbia came in January.

The increase reflected the improved returns from some products, particularly butter, according to the chairman of Glanbia Henry Corbally.

But he cautioned that the supply/demand balance was uneven across the product portfolio. As always, market returns and milk price will be reviewed by the board on a monthly basis, he added.

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