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Saturday 15 December 2018

Kerry announces its September milk price

Margaret Donnelly

Margaret Donnelly

Kerry Group has announced its base milk price for September, keeping it unchanged from its August price.

A spokesperson for Kerry said its base price for September milk supplies would remain unchanged at 32c/L (VAT inclusive)

It comes as Glanbia and Lakeland also announced September milk prices, complete with warnings about the global outlook.

Glanbia announced last week that it was paying its member milk suppliers 32c/L (including VAT) for September manufacturing milk supplies at 3.6pc butterfat and 3.3pc protein.

This is unchanged from the August price paid to members, it said. 

Chairman Martin Keane however warned that Glanbia's milk supply was very strong compared to the same month last year and that this surge in milk supply has coincided with a very strong start to the New Zealand milk production season, with a cumulative 15pc drop in the GDT price index since June resulting in reduced forecast milk prices.

“It should also be noted that there has been a rapid decline in European butter markets, with Dutch Dairy Board reported prices down from €6,100 per tonne in June to €4,700 per tonne this week.”

Lakeland Dairies has held its base milk price at 32.78c/L (including VAT) for September milk supplies.

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It also said that market demand has weakened for butter and milk powder.

Milk supplies are generally strong at present and are up by over 10pc in the current month compared to the same time a year ago.

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