Kerry has announced that its suppliers’ base milk price for May will remain unchanged on the price paid in April.

The processor has not increased base prices since a 1c/l rise paid out on March milk supplies.

May’s price is set at 39.05c/l excluding VAT for milk delivered at 3.3% protein and 3.6% fat.

This is the equivalent of 42.8c/l excluding VAT for milk at EU standard constituents of 3.4% protein and 4.2% fat.

The average milk solids of the co-op’s May milk pool will see an average price of 41.47c/l excluding VAT paid to suppliers for milk deliveries last month.

Buyer's resilience tested

Kerry has claimed that strong butter prices have put a dampener on demand.

“There is sustained strength in butter prices as supply has been curtailed in the EU,” a spokesperson for the co-op said.

“The higher prices are testing buyers' resilience and only essential business is being done at these levels. Any increase in availability will put pressure on prices.”

Lakeland Dairies has also announced that it will hold milk price for the month of May.