Kerry Dairy Ireland Sets June Milk Price Amid Variable Market Conditions
Source: The DairyNews
Kerry Dairy Ireland, part of the Kerry Group, announced on Tuesday, July 16, its milk pricing for June supplies. The processor has set the price at 42.5 cents per liter, inclusive of VAT, for milk with 3.30% protein and 3.60% butterfat content.
For milk meeting the EU standard constituents of 3.40% protein and 4.20% butterfat, the price is higher at 46.60 cents per liter. Kerry Dairy Ireland also noted that the average milk price return for June, which includes VAT and bonuses based on their typical milk solids, is 45.62 cents per liter.
A spokesperson from Kerry Dairy Ireland highlighted current market dynamics, stating, "Butter prices in Europe remain elevated as demand for butterfat continues to outstrip supply." However, the powder market faces challenges due to reduced demand for whole milk powder from China, leading to increased availability of skim milk powder in the market.
In comparison, Lakeland Dairies, another major player in the industry, has also updated its pricing for June milk. The cooperative raised its base price to 43.5 cents per liter, adjusted for 3.6% butterfat and 3.3% protein. This price adjustment includes a 0.5 cent per liter Sustainability Incentive Payment and represents an increase from May's all-in base price of 42.9 cents per liter for suppliers in the Republic of Ireland.
A spokesperson from Kerry Dairy Ireland highlighted current market dynamics, stating, "Butter prices in Europe remain elevated as demand for butterfat continues to outstrip supply." However, the powder market faces challenges due to reduced demand for whole milk powder from China, leading to increased availability of skim milk powder in the market.
In comparison, Lakeland Dairies, another major player in the industry, has also updated its pricing for June milk. The cooperative raised its base price to 43.5 cents per liter, adjusted for 3.6% butterfat and 3.3% protein. This price adjustment includes a 0.5 cent per liter Sustainability Incentive Payment and represents an increase from May's all-in base price of 42.9 cents per liter for suppliers in the Republic of Ireland.
