Kerry Group has increased its base price for August milk by 0.5c/l, bringing the base price to 29.5c/l, excluding VAT. Last week, Glanbia also lifted its price by 0.5c/l, increasing the price to 29c/l, excluding VAT.

Glanbia chair Martin Keane said: “Dairy product prices across the EU have been reasonably stable in recent weeks, despite an overall weaker macro-economic outlook.”

Lakeland Dairies held its price at 29.4c/l, with a spokesperson saying that there is “a cautious stability in the market at present”.