Carbery has cut its base milk price by 2/cl to 42.31c/l, excluding VAT, for September.
A 0.5c/l somatic cell count bonus and 1.25c/l 'FutureProof' sustainability bonus will be paid on top of the base price.
A spokesperson for Carbery said that there is an ongoing weakness in dairy markets, driven by increased milk supplies and subdued demand in key export regions.
“This downturn in markets continues to impact the return we can make on our products. Carbery are closely monitoring the market situation and continuing to drive business performance in other areas to support milk price,” they said.
Price cuts
On Wednesday, Kerry Dairy Ireland announced a milk price cut of 2.86c/l, excluding VAT, to set a base of 41c/l.
“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.
Last week, Lakeland Dairies moved to cut its milk price by 2.85c/l, excluding VAT, to a base of 41.63c/l.