Kerry Dairy Ireland has further reduced its milk price.
Last month, the milk processor dropped the price it would pay for milk supplied in September by three cent per litre (c/l).
Now, it says it will decrease its October milk price by a further 3.53 cent to 41 c/l including VAT, and quality and sustainability bonuses.
The CEO of Kerry Dairy Ireland, Pat Murphy, told Radio Kerry’s Sari Houlihan on AgriTime last week, that he expects the milk price could drop below the cost of production for at least six to eight months next year.
In its monthly milk statement, the milk processor said that global milk production continues to outpace global demand.
Kerry Dairy Ireland’s October milk price is 44.84 c/l incl VAT when expressed as EU standard constituents (3.4% protein, 4.2% butterfat).
Based on Kerry Dairy Ireland’s average milk solids for October, the milk price inclusive of VAT, and quality and sustainability bonuses is 52.67c/l.
