Kerry Dairy Ireland Announces November Milk Price Reduction

Kerry Dairy Ireland has finalized its milk price for supplies delivered in November, setting it at 37.5c/L, including VAT, and quality and sustainability bonuses. This is a reduction from the previous month's price of 41c/L. For milk supplied with EU standard constituents of 3.4% protein and 4.2% butterfat, the price is 41.03c/L, VAT inclusive.

Based on Kerry Dairy Ireland’s average milk solids for November, the overall milk price return inclusive of VAT and bonuses is 49.19c/L. The company noted that global milk production is rising at an unprecedented pace, leading to high inventory levels, especially in Europe. Despite lower prices stimulating some demand, the market remains oversupplied.

In recent days, other dairy processors have also announced cuts in milk prices. The Dairygold board reduced its November milk price by 2c/L to 36c/L, which translates to an average farm gate price of 49.1c/L. Meanwhile, Lakeland Dairies confirmed a price of 36.25c/L for November milk in the Republic of Ireland, inclusive of a 0.5c/L Sustainability Incentive Payment. This represents a 4c/L reduction from October's price.