Kerry Group has today (Wednesday, September 14) announced that its base price for August milk supplies will remain unchanged compared to July.
The processor will pay a base price of 56c/L at 3.3% protein and 3.6% butterfat, and inclusive of VAT.
On standard EU constituents of 3.4% protein and 4.2% butterfat, the August price is 61.28c/L.
Based on Kerry’s average milk solids for August, the processor said that the milk price return inclusive of VAT and bonuses is 62.06c/L.
Similar to last month, Kerry Group confirmed that it will pay suppliers an additional 1.5c/L at 3.3% protein and 3.6% butterfat on August milk volumes.
The processor said that this is part of its “contractual commitment”.
The statement also confirmed a further payment for Kerry suppliers on fixed milk-price contracts.
“An ex-gratia payment of 1.5c/L, inclusive of VAT, at 3.3% protein and 3.6% butterfat, will be made on milk volumes supplied under fixed price contracts in August.”
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Lakeland Dairies yesterday became the first processor to announce its milk price for supplies in August.
The processor has opted to hold its Republic of Ireland base price at 57.35c/L, including VAT, at 3.6%fat and 3.3 %protein.
However, a input support payment of 1.5c/L will also be made to all suppliers, including those on fixed milk price contracts.
This bring the minimum price for milk at standard constituents to 58.85c/L.
The average payout to suppliers in the Republic of Ireland for August milk will be 63.6c/L, the processor said.
Similarly, in Northern Ireland, Lakeland has decided to hold its base price at 46p/L but introduce a 1.5p/L input support payment there as well.
Lakeland said it will pay out 48.98p/L on average for August milk in Northern Ireland, including adjustments for constituents and quality, volume bonuses and zero cartage charges.