Kerry Group has today (Wednesday, October 13) announced its milk price for the month of September.

The group's base price for September milk supplies will increase by 1c/L to 36c/L including VAT at 3.3% protein and 3.6% butterfat.

The price is set at 39.53c/L including Vat at EU Standard Constituents 3.4% protein and 4.2% butterfat.

According to the group, based on Kerry’s average milk solids for September, the milk price return inclusive of VAT and bonuses is 42.37c/L.

Kerry Group is the second processor to announce its September milk price this week.

Earlier this week Glanbia announced that it will pay its member milk suppliers 36.6c/L including VAT for September milk, at 3.3% protein and 3.6% butterfat.

Glanbia Ireland (GI) will pay a base price for September of 36.18c/L including VAT at those constituents. This is an increase of 1c/L including VAT from the price for August milk supplies.

Farmer members will also receive a 0.42c/L including VAT payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.

Based on the LTO standard constituents of 3.4% protein and 4.2% butterfat, the Glanbia price for September is 39.94c/L.

Kerry Group also announced this week, details of a new three-year Fix Milk Price Scheme, which opened for applications on October 11.

The announcement of the three-year scheme came a week after the announcement of the group’s Forward Price Scheme 24 for next year.

The new fixed price scheme will be open for applications until 2:00p.m today (Wednesday, October 13).

The offer price for the scheme had been confirmed as 33.1c/L including VAT, at 3.3% protein and 3.6% butterfat.

The scheme will cover the period March to October for the years 2022, 2023 and 2024.