Kerry Group confirms price for September milk
Global dairy markets continue to reflect ongoing economic volatility.
Kerry Group has announced it will pay a base price of 56c per litre for September milk supplies, which remains unchanged from the base price for both August and July supplies.
It will pay 56c per litre (VAT included) at 3.3% protein and 3.6% butterfat, and 61.28c per litre (VAT included) at EU Standard Constituents 3.4% protein and 4.2% butterfat.
Based on Kerry’s average milk solids for September, the milk price return inclusive of VAT and bonuses is 66.19c per litre.
Kerry Group also said an ex-gratia payment of 2c per litre at 3.3% protein and 3.6% butterfat will be made on milk volumes supplied under fixed-price contracts in September.
Kerry was the second processor to announce its milk price for September, following Lakeland Dairies, which announced that it has also maintained the current milk price level for September.
In the Republic of Ireland, it has maintained the price of 58.85c per litre inclusive of VAT, for milk at 3.6% fat and 3.3% protein.
This includes a supplementary input support payment of 1.5c per litre, inclusive of VAT, introduced in August recognising the rising costs of all farm inputs and payable for all suppliers, including fixed-price contracts.
On average, the Lakeland Dairies payout will be 67.45c per litre for September milk.
All fixed-price contracts will receive an 8c per litre supplementary payment, plus the additional 1.5c per litre input support payment.
In Northern Ireland, Lakeland Dairies has maintained the price of 47.5p per litre.
This includes an input support payment of 1.5p per litre.
On average, Lakeland Dairies will pay out 49.51p per litre for September milk in Northern Ireland including adjustments for constituents and quality, and volume bonuses and zero cartage charges.
All fixed-price contracts will receive a 7p per litre supplementary payment, plus the additional 1.5p per litre input support payment.
A spokesperson for Lakeland Dairies said that global dairy markets continue to reflect ongoing economic volatility, including inflation, and concerns relating to energy pricing and the overall cost of living.Â
Asian market demand has also softened further.
Consumer sentiment is generally less assured than heretofore, trending towards reduced demand for higher-priced product categories and consequent ongoing effects on market prices, the spokesperson added.
