Carbery Group has announced its milk price for supplies in January, confirming it is holding the price.

Carbery said that if this decision is replicated across the four west Cork co-ops - Bandon, Barryroe, Drinagh, and Lisavaird - it will result in an average milk price of 53.57c/L including VAT, the somatic cell count (SCC) bonus and the FutureProof sustainability bonus.

The FutureProof bonus available for 2025 has increased by 0.25c/L to a total 1.25c/L.

A spokesperson for Carbery Group said: "Stability of dairy markets is continuing for the start of 2025 and we will continue to monitor markets closely to maximise returns for our stakeholders.

Carbery's announcement of its milk price comes the day after Kerry Dairy Ireland confirmed its price.

The processor said that the milk price for January milk supplies is 53.5c/L, including VAT.

Kerry Dairy Ireland said that this is inclusive of a base-price top-up of 3c/L, including VAT and quality bonuses.

Based on Kerry Dairy Ireland’s average milk solids for January, the milk price return, inclusive of VAT and bonuses, is 63.2c/L, the processor said.

In a statement, Kerry Dairy Ireland said: “Prices have fallen slightly in Europe recently as the threat of a foot and mouth disease outbreak recedes.

“Global demand outlook is good, which should provide support for prices as Europe heads into peak production," the statement said.

Last week, the board of Lakeland Dairies decided on a price for milk supplied in January, with its base price being held.

A base price of 49.75c/L, VAT inclusive, at constituents of 3.6% butterfat and 3.3% protein, will be paid for January milk in the Republic of Ireland, which is inclusive of the 0.5c/L Sustainability Incentive Payment.

The processor said that qualifying farmers will also receive a 5c/L out-of-season payment.

While the base price paid by Lakeland Dairies is unchanged, the move of the VAT rate to 5.1% as part of Budget 2025 means that the VAT inclusive price is 49.75c/L compared to 49.6c/L for December milk.