Kerry Dairy Ireland has confirmed that it is set to offer a new forward price scheme for its milk suppliers.

The processor said that its 'Forward Price Scheme 55' will open for applications today (Tuesday, March 10) at 3:00p.m and will remain open for 24 hours.

The scheme is based on an indicative price of 39.5 to 40.5c/L, including VAT at constituents of 3.3% protein and 3.6% butterfat.

A spokesperson for Kerry Dairy Ireland confirmed that this forward price scheme will cover the period from March to October 2027.

Kerry Dairy Ireland

Last month, Kerry Dairy Ireland announced that it would pay a 'base price top up' as part of its milk price for January.

The processor said that its milk price for January supplies will be 37.5c/L, including VAT, the base price top up, and quality and sustainability bonuses.

This compares to a milk price of 34.5c/L that was announced last month for December supplies.

The 3c/L top up will bring the January milk price back to the same level as the milk price for November supplies, before it was cut by 3c/L for December milk.

Kerry Dairy Ireland said that, based on its suppliers' average milk solids for January, the average milk price return will be 45.28c/L.

In a statement at the time, the processor said that dairy commodity markets had stabilised in recent weeks, finding a floor "despite continued strong milk supply, with volumes across major exporting regions still exceeding earlier projections".