Kerry Group hold milk price for June supplies | eDairy News

Kerry Group hold milk price for June supplies

It comes as Glanbia Ireland (GI) announced late last week that it will increase its base milk price for June by 2 cents to 31 cpl including VAT, for manufacturing milk at 3.6pc fat and 3.3pc protein.

In addition, Glanbia Co-op will make a drought related support payment to Members of 1 cpl including VAT, for June manufacturing milk at 3.6pc fat and 3.3pc protein.

The Glanbia Ireland base price and the Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Martin Keane, Glanbia Chairman, said: “We are pleased to increase our milk price for the highest milk volume month of the year.

“This reflects increased returns, particularly for butter. However, market balance remains fragile, with the impact of trade wars and consumer resistance to higher retail prices being two issues that need to be monitored very closely in the coming months”.

Meanwhile, Lakeland Dairies held the base milk price at 31.78 cents per litre including VAT for June milk supplies.

Reacting to that move, IFA National Dairy Chairman Tom Phelan said farmers were disappointed that Lakeland had missed the opportunity to increase their June milk price at a time when this was justified, and their suppliers needed it badly.

He said farmers would not tolerate other co-ops, many of which paid less than Lakeland for May milk, using the Lakeland example as an excuse: “They can and must do better”, Tom Phelan said.

“I have called for co-ops to include the May fodder/weather support into the June base price, and to further increase the June base by at least 1c/l. This is fully justified by increased market returns during June, and absolutely necessary to support farmers’ cash flow in one of the most challenging years many have ever experienced,” he concluded.

 

By: Ciaran Moran

Source: Independent

Link: https://www.independent.ie/business/farming/dairy/milk-prices/kerry-group-hold-milk-price-for-june-supplies-37122823.html

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