Kerry Group and Lakeland Dairies have cut their milk price for May, paying farmers 35.07c/l, excluding VAT, and 35.40c/l, excluding VAT, respectively.
Kerry’s May price is down just under 1c/l from the 36.02c/l, excluding VAT, that farmers received for April milk.
This has caused significant upset amongst suppliers and led to a protest of several farmers in Charleville on Tuesday.
A Kerry Group spokesperson said, when announcing the cut in price, 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,” they said. Lakeland Dairies’ reason for cutting milk price was, according to a spokesperson, down to “economic volatility” and weaker consumer sentiment in markets across the world.
Aurivo was the third co-op to set a price below the 36c/l mark. Its board sat on Monday and set its milk price for the month of May at 35.6c/l, excluding VAT.
Dairygold and Tirlán announced on Friday that there would be no change to their milk price for May supplies.
Dairygold is paying farmers 38.09c/l while Tirlán is paying farmers 37.99c/l, both excluding VAT.
Carbery’s board also announced no change for the May milk price, paying farmers 39.1c/l, excluding VAT.
Carbery now sits at the top of the milk league table.