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Kerry Group and Lakeland Dairies Maintain April Milk Prices Amidst Market Fluctuations

Ireland 20.05.2024
Source: The DairyNews
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This week, Kerry Group announced that its milk price for April will remain consistent with last month’s rate of 41 cents per liter. The company confirmed that the total price return, inclusive of VAT and bonuses based on Kerry’s average milk solids for April, will be approximately 43.71 cents per liter.
Kerry Group and Lakeland Dairies Maintain April Milk Prices Amidst Market Fluctuations
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A spokesperson fr om Kerry Group commented on the recent market trends, noting, "The rebound in global dairy prices that began in late 2023 and continued into the first quarter of this year has slowed recently due to diminished demand. However, supply-side challenges are expected to continue in the short to medium term, supporting dairy commodity prices despite the lack of significant demand growth."

In a similar move, Lakeland Dairies has also decided to keep its base price for milk supplied in April unchanged. Suppliers based in the Republic of Ireland will receive 41.9 cents per liter, calculated with the standard parameters of 3.6% butterfat and 3.3% protein.

Furthermore, Lakeland has announced a forthcoming change in its payment structure for Northern Ireland suppliers. Following consultations, the dairy processor will transition to a payment method based on milk solids, specifically an A+B-C formula, wh ere 'A' represents the price for protein, 'B' the price for fat, and 'C' the cost of processing. This new pricing model is set to be phased in between July 1, 2024, and January 1, 2026, aiming to reflect more accurately the value of the milk components supplied.
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