Kerry Group has announced a further drop in milk prices for its suppliers, representing an 18 cent drop per litre since November.
The agri-food giant says its base price for April milk supplies is 38 cent per litre.
This compares to 40 cent per litre paid to suppliers in March.
Kerry says although milk supply in Europe is decreasing and is projected to decline further, there is an increase in production from other parts of the world.
The company says the outlook for demand is varied, but currently not robust enough to drive an increase in dairy commodity prices.
Noel Murphy from Milltown is the national chair of the ICMSA’s dairy committee.
In a joint statement Kerry Group and Kerry Co-op announced there will be a further payment to milk suppliers of 11.5 million euro.
This is for milk they supplied last year.
Noel Murphy of the Irish Creamery Milk Suppliers’ Association says it’s good news but no more than what Kerry farmers deserve.
He says around 3,000 milk suppliers will benefit.
