Kerry Dairy Ireland today (Thursday, May 15) confirmed that the price for April milk supplies has been set at 50.43c/L including VAT and quality and sustainability bonuses.

This compares to the Kerry Dairy Ireland price for March milk supplies which was 51.43c/L, (including VAT and quality and sustainability bonuses).

At EU standard constituents of 3.40% protein and 4.20% butterfat, the processor said that the April milk price is is 55.09 c/L, including VAT.

Based on Kerry Dairy Ireland’s average milk solids for April, the milk price return inclusive of VAT, quality and sustainability bonuses is 53.93c/L.

In a statement the processor said that while global demand for dairy remains "resilient", the ongoing US tariff actions are putting pressure on the US Dollar.

"As a result, European export prices are losing competitiveness with the US and New Zealand," it said.

The market observation from Kerry Dairy Ireland comes as Tánaiste Simon Harris travelled to Brussels today for meetings with European Trade Commissioner Maros Sefčovic and EU Trade Ministers to discuss the latest developments on trade and tariffs.

As part of his schedule the Tánaiste will hold a bilateral meeting with Commissioner Sefcovic on the margins of the Foreign Affairs Council (FAC) on Trade where they will discuss the latest on negotiations between the EU and the US and identify possible ways forward.

The main FAC meeting will also give ministers the opportunity to discuss policy views on EU trade relations with the US and the commission and ministers will get an update on the negotiations to reach "a balanced and mutually acceptable solution".

It is also expected that discussions will take place on the EU’s list of possible countermeasures, published last week, to "defend its consumers and industry only in case negotiations with the US fail".

It is understood the Tánaiste intends to "set out Ireland’s position as it seeks to avoid any unintended consequences for the Irish economy".