Kerry Dairy Ireland has today (Wednesday, April 15) become the latest processor to confirm the price it will pay for milk supplied in March.

The processor said it has increased its base milk price by 3c/L, including VAT, for March milk supplies.

Kerry Dairy Ireland said its milk price for March supplies is 37.5c/L, VAT inclusive, including quality and sustainability bonuses.

At EU standard constituents of 3.4% protein and 4.2% butterfat, this equates to 41.08c/L (VAT inclusive).

Based on Kerry Dairy Ireland’s average milk solids for March, the milk price return inclusive of VAT, quality and sustainability bonuses is 41.37c/L.

Kerry Dairy Ireland

In a statement, a spokesperson for Kerry Dairy Ireland said:

"Dairy markets have softened in recent weeks, with pressure on butter and skim milk powder partly offset by more resilient whey markets.

"Globally, milk supply remains strong, while steady demand outside China continues to be moderated by weaker Chinese import activity".

Milk price

Earlier today, Tirlán confirmed that it will pay a total of 37.08c/L, including VAT, for March milk supplies.

The processor has also announced today (Wednesday, April 15) it is committed to maintaining that price for April and May, "subject to any unforeseen events".

Meanwhile, the Lakeland Dairies board announced on Monday, (April 13) that it would increase the base price for milk by 3c/L for March.

The board has agreed to pay a base price of 36.25c/L - based on 3.6% butterfat and 3.3% protein - for March milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment.

In Northern Ireland, the co-op will pay a base price of 28.85p/L for milk supplied in March which was also inclusive of the Sustainability Incentive Payment.

This represents an increase of 2.55p/L.