Kerry Group Reveals March Milk Price Amidst Market Pressures
Source: The DairyNews
Kerry Group has unveiled its milk price for March supplies, joining the ranks of processors making announcements in the dairy sector.
For March milk supplies, Kerry Group sets the price at 41.0 cents per liter, including VAT, based on 3.30% protein and 3.60% butterfat. This includes a base price of 39 cents per liter, supplemented by a milk contract payment of 2 cents per liter on qualifying milk volumes.
According to Kerry Group, the March milk price, calculated at EU standard constituents of 3.4% protein and 4.2% butterfat, amounts to 44.96 cents per liter.
Taking into account Kerry Group's average milk solids for March, the inclusive return, including VAT and bonuses, stands at 44.08 cents per liter.
A spokesperson for Kerry Group noted the ongoing pressure on milk production in Europe, attributed to persistent wet weather conditions. Despite uncertainties surrounding demand, these market dynamics continue to provide support for dairy markets.
In parallel developments, Lakeland Dairies' board has finalized its price for March milk supplies, signaling an increase in the base price alongside the introduction of an input support payment.
In the Republic of Ireland (ROI), a base price of 41.9 cents per liter, based on 3.6% butterfat and 3.3% protein, will be paid for March milk, reflecting a 0.5 cents per liter increase compared to February. Additionally, this includes the 0.5 cents per liter Sustainability Incentive Payment.
Lakeland Dairies is implementing a separate 1 cent per liter Input Support Payment on top of the base price, marking the second instance this year of such support for suppliers.
Consequently, the all-in base price for ROI suppliers stands at 42.9 cents per liter for milk supplied in March.
According to Kerry Group, the March milk price, calculated at EU standard constituents of 3.4% protein and 4.2% butterfat, amounts to 44.96 cents per liter.
Taking into account Kerry Group's average milk solids for March, the inclusive return, including VAT and bonuses, stands at 44.08 cents per liter.
A spokesperson for Kerry Group noted the ongoing pressure on milk production in Europe, attributed to persistent wet weather conditions. Despite uncertainties surrounding demand, these market dynamics continue to provide support for dairy markets.
In parallel developments, Lakeland Dairies' board has finalized its price for March milk supplies, signaling an increase in the base price alongside the introduction of an input support payment.
In the Republic of Ireland (ROI), a base price of 41.9 cents per liter, based on 3.6% butterfat and 3.3% protein, will be paid for March milk, reflecting a 0.5 cents per liter increase compared to February. Additionally, this includes the 0.5 cents per liter Sustainability Incentive Payment.
Lakeland Dairies is implementing a separate 1 cent per liter Input Support Payment on top of the base price, marking the second instance this year of such support for suppliers.
Consequently, the all-in base price for ROI suppliers stands at 42.9 cents per liter for milk supplied in March.
