Kerry Group has announced it will pay suppliers 30.5c/L (vat inclusive) for March milk supplies.
Its base price for February milk supplies was 32.5c/L (vat inclusive).
According to Kerry, based on average March milk solids, the price return inclusive of vat and bonuses is 32.83c/L.
In a statement today, Kerry said it is conscious that issues related to the coronavirus outbreak in Ireland and across the globe are a great concern to milk suppliers, employees and all stakeholders.
"Kerry Group will endeavour to maintain all processing operations and essential services to milk suppliers during this challenging situation."
Glanbia earlier today announced it was cutting its March base milk price by 2c/L, while Lakeland cut its price last week.
Glanbia announced to suppliers that it will pay its member milk suppliers 29.42c/L (inc VAT) for March creamery milk supplies at 3.6% butterfat and 3.3% protein.
Lakeland said in the Republic of Ireland, a price of 30c/L (including VAT and Lactose bonus) will be paid for milk supplied in March. This represents a reduction of 1.81c/L on the February base price.
In Northern Ireland, a base price of 23.75p/L will be paid for March milk. This is a reduction of 1.5p/L on the February price.
Kerry also said today that due to the impact of the Covid-19 pandemic crisis, and further to the Joint Statement issued by Kerry Group and Kerry Co-Operative Creameries Limited in December, it has been agreed to extend the timeframe for discussions in relation to milk price arrangements and agreement towards a future long-term sustainable relationship, pending resumption of normal activities.