Kerry Dairy Ireland has dropped its November milk price by a further 3.5 cent per litre (c/l), reflecting the ongoing trend among milk processors nationwide.
It will now pay 37.5 c/l including VAT and quality and sustainability bonuses for milk supplied by farmers last month.
In its monthly statement, the milk processor said the outlook for prices remains weak globally, as the milk supply continues to grow at an unprecedented pace.
It added that although lower prices have improved demand slightly, "markets remain oversupplied, with inventory levels particularly high in Europe".
Since January this year, Kerry Dairy Ireland has cut its milk price by 30% (29.9%), when it paid 53.5c/l.
Based on Kerry Dairy Ireland’s average milk solids for November, the milk price return inclusive of VAT, quality and sustainability bonuses is 49.19c/l.
That's the equivalent of 41.03 c/l including VAT when calculated using EU standard constituents (3.4% protein and 4.2% butterfat)
