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Ireland 14.12.2023

Kerry Group announces milk price for November supplies

Source: The DairyNews
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Kerry Group has officially disclosed its milk price for November supplies, maintaining a consistent rate of 35c/L inclusive of VAT, with 3.30% protein and 3.60% butterfat. This pricing structure, which has remained unchanged since August, comprises a base price of 32c/L and a milk contract payment of 3c/L, inclusive of VAT, applicable to all qualifying milk volumes.
Kerry Group announces milk price for November supplies
When evaluated against EU standard constituents of 3.4% protein and 4.2% butterfat, the November milk price stands at 38.4c/L. Considering Kerry's average milk solids for the same period, the comprehensive milk price return, inclusive of VAT and bonuses, amounts to 45.9c/L.

A spokesperson from Kerry Group noted, "Sentiment regarding dairy commodities is cautiously positive for 2024 as the challenges of a tumultuous 2023 come to a conclusion. However, lingering uncertainties around the market fundamentals underscore the cautious optimism."

Meanwhile, Lakeland Dairies has confirmed an upward adjustment in the milk price offered to dairy farmers for November supplies. The Republic of Ireland will witness a base price of 36c/L (3.6% butterfat and 3.3% protein), marking a 2c/L increase. Eligible farmers will also benefit from a 3c/L out-of-season payment.

The Ornua Purchase Price Index (PPI) recently rose to 125.8 earlier this month, signaling an indicative price return of 37.2c/L, inclusive of VAT, for November. These developments reflect the dynamic landscape of the dairy market, as players navigate uncertainties and seize opportunities in the evolving industry.
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