Carbery has cut its July milk price by 1c/l, to a base price of 29.8c/l, excluding VAT.

The drop has come as a result of weaker dairy markets, according to the processor, with the lower price being replicated across the group's four co-ops Bandon, Barryroe, Lisavaird, and Drinagh.

Stability fund

“The board has also decided to pay 1c/l in support of its farmer shareholders from its stability fund, to effectively off-set the reduction," a spokesperson for the group said.

“Carbery Group will continue to monitor the market going forward.”

Carbery is the latest processor to cut its milk price for july supplies, following the lead of Dairygold and Aurivo.

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