Kerry Group has announced that it will deliver an €11.5m top-up payment to farmers for the milk they supplied in 2022.
This milk price top-up equates to an additional €4,300 per farm, excluding VAT and at Kerry milk solids, for the average farm delivering 500,000l. It means Kerry suppliers will receive an average top-up payment of €54/cow.
The top-up payment will also apply to all milk solids supplied to Kerry Group under fixed price schemes in 2022.
Milk price
Kerry Group also confirmed that it will pay farmers 36.02c/l for their April supplies, excluding VAT and at 3.3% protein and 3.6% butterfat. The April price is 2c/l less than the 38.1c/l farmers received for March supplies.
Kerry Group cut 2c/l off its March milk price for April supplies. \ Philip Doyle
“Although milk supply in Europe is decreasing and is projected to decline further, there is an increase in milk production from exporting countries in other parts of the world.
“The demand outlook is varied, but currently not robust enough to drive an increase in dairy commodity prices,” a spokesperson said.
Competitors
Elsewhere, Dairygold also reduced its milk price for April by 2c/l to 38.09c/l, excluding VAT for all milk supplied at 3.3% protein and 3.6% butterfat.
A company spokesperson said that the decision was based on the continued weakness in global dairy ingredient markets over the last number of weeks.
Last week, Lakeland Dairies cut its April milk price by 3.8c/l on the March price.
Suppliers in the Republic of Ireland saw their price fall below the 40c/l mark to 37c/l, excluding VAT.
Read more
Kerry Group sets milk price below 40c/l
Dairygold announces April milk price
Lakeland cuts April milk price
Kerry Group has announced that it will deliver an €11.5m top-up payment to farmers for the milk they supplied in 2022.
This milk price top-up equates to an additional €4,300 per farm, excluding VAT and at Kerry milk solids, for the average farm delivering 500,000l. It means Kerry suppliers will receive an average top-up payment of €54/cow.
The top-up payment will also apply to all milk solids supplied to Kerry Group under fixed price schemes in 2022.
Milk price
Kerry Group also confirmed that it will pay farmers 36.02c/l for their April supplies, excluding VAT and at 3.3% protein and 3.6% butterfat. The April price is 2c/l less than the 38.1c/l farmers received for March supplies.
Kerry Group cut 2c/l off its March milk price for April supplies. \ Philip Doyle
“Although milk supply in Europe is decreasing and is projected to decline further, there is an increase in milk production from exporting countries in other parts of the world.
“The demand outlook is varied, but currently not robust enough to drive an increase in dairy commodity prices,” a spokesperson said.
Competitors
Elsewhere, Dairygold also reduced its milk price for April by 2c/l to 38.09c/l, excluding VAT for all milk supplied at 3.3% protein and 3.6% butterfat.
A company spokesperson said that the decision was based on the continued weakness in global dairy ingredient markets over the last number of weeks.
Last week, Lakeland Dairies cut its April milk price by 3.8c/l on the March price.
Suppliers in the Republic of Ireland saw their price fall below the 40c/l mark to 37c/l, excluding VAT.
Read more
Kerry Group sets milk price below 40c/l
Dairygold announces April milk price
Lakeland cuts April milk price
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