Kerry Dairy Ireland will pay farmers 37.5 cent per litre of milk supplied in February, maintaining the January price.
That price is inclusive of VAT, and quality and sustainability bonuses.
In its February milk statement, the processor said commodity prices have strengthened in recent weeks despite "continued growth" in the global milk supply.
It stated that the ongoing conflict in the Middle East could hamper milk sales, with the possibility of the region cutting its purchases.
Based on the average milk solids supplied to Kerry Dairy Ireland in February, that's the equivalent of 43.3 cent per litre including VAT and bonuses.
If calculated using EU standard constituents (3.4% protein/4.2% butterfat) the milk price is 41.08 cent per litre including VAT).
