Kerry Group has increased its milk price for July by 2.5c/L, compared to last month, bringing the price up to 56c/L at 3.3% protein and 3.6% butterfat, and inclusive of VAT.

On standard EU constituents of 3.4% protein and 4.2% butterfat, the July price is 61.28c/L.

The processor also announced details of additional payments "as part of its contractual commitment to pay the leading milk price" in a statement today (Tuesday, August 16):

"As part of our contractual commitment to pay the leading milk price, on a like-for-like basis, milk suppliers will receive an additional payment of 0.63c/L, inclusive of VAT, at Kerry average solids on all qualifying milk supplied in June, year-to-date."

And there is also positive news for those suppliers on fixed-price contracts:

"Kerry Group will also make an ex-gratia payment equivalent to 0.63c/L, inclusive of VAT, at Kerry average solids on milk volume under fixed-price contracts for the same period."

Dairygold also announced its July price earlier today, increasing it by 2c/L to 57.5c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonusses and VAT.

According to Dairygold, this milk price will equate to an average July farmgate milk price of 63c/L, based on average July milk solids achieved by Dairygold milk suppliers.

On standard EU constituents of 3.4% protein and 4.2% butterfat, the Dairygold price for July equates to 62.7c/L.