Kerry Dairy Ireland has announced a price cut of 2.86c/l, excluding VAT, for September supplies of manufacturing milk.
It has set a base milk price of 41c/l, excluding VAT. The price rises 42.36c/l excluding VAT when quality and sustainability bonuses are included
“Dairy markets remain oversupplied, and sentiment is very weak. Continued strong milk supplies across key producers are exerting downward pressure on commodity prices,” a Kerry Dairy Ireland spokesperson said.
“Market stabilisation and recovery will be dependent on demand picking up at lower prices to absorb surplus supply.”
It is the second milk processor to cut the price for September milk.
Lakeland
Last week, Lakeland Dairies moved to cut its milk price by 2.85c/l, excluding VAT, to a base of 41.63c/l.
Commenting on the price cut, a Lakeland Dairies spokesperson said that the market continues to experience pressure due to sustained strong global supply, particularly from major dairy-exporting regions.
“This is driving a decline in commodity prices for butter and all milk products and is contributing to a significant downward momentum on farm gate price.”
Read more
Lakeland slashes September milk price
Lidl to cut retail price of milk
Latest GDT price index drops 1.6%
Kerry Dairy Ireland has announced a price cut of 2.86c/l, excluding VAT, for September supplies of manufacturing milk.
It has set a base milk price of 41c/l, excluding VAT. The price rises 42.36c/l excluding VAT when quality and sustainability bonuses are included
“Dairy markets remain oversupplied, and sentiment is very weak. Continued strong milk supplies across key producers are exerting downward pressure on commodity prices,” a Kerry Dairy Ireland spokesperson said.
“Market stabilisation and recovery will be dependent on demand picking up at lower prices to absorb surplus supply.”
It is the second milk processor to cut the price for September milk.
Lakeland
Last week, Lakeland Dairies moved to cut its milk price by 2.85c/l, excluding VAT, to a base of 41.63c/l.
Commenting on the price cut, a Lakeland Dairies spokesperson said that the market continues to experience pressure due to sustained strong global supply, particularly from major dairy-exporting regions.
“This is driving a decline in commodity prices for butter and all milk products and is contributing to a significant downward momentum on farm gate price.”
Read more
Lakeland slashes September milk price
Lidl to cut retail price of milk
Latest GDT price index drops 1.6%
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