Kerry Dairy Ireland has today (Monday, March 16) confirmed the price it will pay suppliers for milk collected in February.

The processor said the milk price for February supplies is 37.5c/L, including VAT.

This price includes a base-price top-up of 3c/L, VAT inclusive, quality and sustainability bonuses.

This milk price is unchanged from January.

Kerry Dairy Ireland

Based on Kerry Dairy Ireland’s average milk solids for February, the processor said the milk price return inclusive of VAT, quality and sustainability bonuses is 43.30c/L.

At EU standard constituents of 3.4% protein and 4.2% butterfat the milk price is 41.08c/L, including VAT.

In a statement, a spokesperson for Kerry Dairy Ireland said: "Commodity prices have strengthened in recent weeks despite continued growth in global milk production".

"The ongoing conflict in the Middle East presents a potential headwind, with the prospect of reduced purchasing activity from the region," they added.

Milk price

Last week, the board of Dairygold has said it will maintain the February quoted milk price at 36c/L.

This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments and VAT.

Dairygold had also held the January quoted milk price at 36c/L.

Separately, Lakeland Dairies also confirmed that it will hold the price for milk for February.

The board of the processor has agreed to hold the base price of 33.25c/L -based on 3.6% butterfat and 3.3% protein - for February milk in the Republic of Ireland (ROI) which is inclusive of the 0.5c/L Sustainability Incentive Payment.

Lakeland Dairies will also continue to pay 2c/L "input support", which it said is aimed at helping and supporting farmers through the current market challenges.

The co-op added: "In addition, ROI farmers will receive the normal 2c/L early calving bonus.

"This will bring the minimum base price for milk to 37.25c/L.

"The co-operative will also pay 5c/L on all qualifying litres for the out of season bonus".

In Northern Ireland (NI), Lakeland Dairies will pay a base price of 26.3p/L for milk supplied in February which is also inclusive of the Sustainability Incentive Payment.

The co-op will also pay an input support of 1.75p/L.

Lakeland Dairies stated: "All farmers will also receive an out-of-season payment of 3p/L.

"This will bring the minimum base price for milk in NI to 31.05p/L".