Kerry Group confirms 1c cut to May milk price
A Kerry spokesperson said that global dairy markets continue to struggle with significant demand uncertainty.
Kerry Group has confirmed its price for May milk supplies.
The base price is down 1c to 37c per litre, including Vat, at 3.3% protein and 3.6% butterfat.
At EU standard constituents of 3.4% protein and 4.2% butterfat, the price is 40.61c per litre.
Based on Kerry’s average milk solids for May, the milk price return inclusive of Vat and bonuses is 39.09c per litre.
A Kerry spokesperson said that global dairy markets continue to struggle with significant demand uncertainty.
"This uncertainty is largely attributed to a misalignment of income with inflated prices and rising interest rates, resulting in weakened purchasing power," the spokesperson said.
"The emphasis on domestic milk production and resulting output growth has reduced China’s reliance on global suppliers."
The spokesperson added that global milk production is still positive, but is currently experiencing a noticeable deceleration.
The first processor to confirm its price for May milk was Lakeland Dairies.
In the Republic of Ireland, Lakeland has held the base price at 37.35c per litre, inclusive of Vat, for milk at 3.6% fat and 3.3% protein.
In Northern Ireland, Lakeland has held the base price at 30p per litre.
The board has also announced that it has discontinued the monthly input support payment, which was paid to farmers at 1.5c per litre and 1.5p per litre.
This support payment was first established in August 2022.
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