Kerry Dairy Ireland has announced its May milk price.
It is to pay 50.03 cent per litre, including VAT and quality and sustainability bonuses, for the milk supplied last month.
Based on the average solids for milk supplied to Kerry Dairy Ireland in May, this equates to 52.75 cent per litre all in.
When express based on EU standard constituents (3.4% protein, 4.2% butterfat), the milk price is 54.66 c/l incl. VAT.
In its monthly milk statement, the milk processor said global milk production has grown this year and is expected to maintain a similar trajectory in the months ahead.
It continues "Strong demand has supported relative market stability; however, rising commodity prices are beginning to filter through to retail, which may result in increased pressure on consumer demand".
