Kerry Dairy Ireland has dropped it's September milk price by three cent per litre (c/l).
The milk processor will pay farmers 44.53 c/l, including VAT, and quality and sustainability bonuses, for the milk bought last month.
Based on the average milk solids supplied to the dairy business in September, that's equivalent to 54.63 (c/l).
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In their monthly milk statement, Kerry Dairy Ireland stated that dairy markets remain oversupplied, with very weak consumer sentiment.
Based on the EU standard constituents (3.4% protein and 4.2% butterfat) the milk price is 48.68 c/l including VAT.
The statement continued, market stabilisation and recovery will depend on demand picking up at lower prices to absorb surplus supply.
