The Kerry Dairy Ireland milk price for January milk supplies is 50.9c/l, excluding VAT.

This price is inclusive of a base-price top-up of 2.85c/l, excluding VAT, and quality bonuses of 0.48c/l, excluding VAT.

At EU standard constituents of 3.4% protein and 4.2% fat the milk price is 55.7c/l, excluding VAT.

Based on Kerry Dairy Ireland’s average milk solids for January, the milk price return exclusive of VAT but inclusive of bonuses is 60.1c/l.

A Kerry Dairy Ireland spokesperson 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."