Both Kerry and Glanbia have announced that they will hold their milk prices for April supplies, following a similar decision by Lakeland Dairies last week.
Glanbia Ingredients Ireland (GII) has held its base price for April at 31c/L including VAT for manufacturing milk at 3.6% fat and 3.3% protein.
This is the third consecutive month the processor has decided to hold its milk price, with the last milk price increase of 1c/L coming in January.
Earlier this morning, it was revealed that Kerry decided to hold its milk price for April supplies at 31c/L including VAT; this is the third consecutive month that Kerry has held its milk price.
This milk price is based on milk supplied at 3.3% protein and 3.6% fat. The most recent milk price increase from Kerry came in January, when an increase of 2c/L was announced.
Last week, Lakeland Dairies was the first processor to announce its milk price for April milk; it decided to hold its milk price at 31.28c/L including VAT.
Similarly to Kerry and Glanbia, it was the third consecutive month that Lakeland Dairies decided to hold its milk price at 31.28c/L including VAT.
The most recent milk price increase from Lakeland Dairies came in January, when an increase of 1c/L was announced.
Lakeland Dairies operates within a 15-county catchment area across the northern half of the island of Ireland.
The boards of other processors are expected to meet in the coming days to decide on their milk prices for April supplies.
Ornua aims to ‘guard’ milk price at 28-32c/L
Meanwhile, Ornua plans to stabilise Irish milk prices after a long period of volatility, the group CEO, Kevin Lane, has revealed.
Lane was speaking after posting the company’s 2016 operational and financial performance early last week.
Ireland’s largest exporter of Irish dairy products delivered a strong trading performance last year, with increases witnessed in turnover, EBITDA and operating profit.
But, Lane added, one of Ornua’s key roles is often “missed or misunderstood”.
Over a 14-month period, milk price has gone from a high of 36-37c/L, down to a low of 22-23c/L and anything in between.
Ornua’s job, Lane said, is to keep the guard rails for the Irish milk price in the 28-32c/L range and to avoid the massive peaks and troughs in the market.
This, he added, can be achieved through the use of risk management, hedging tools, trading expertise, the sale of value-added products and fixed milk price contracts.