Kerry Group has announced that it will pay farmers 47.39c/l, excluding VAT, for all January milk supplied at 3.3% protein and 3.6% fat.

This is a 5.69c/l reduction on December supplies when Kerry paid its farmers 53.08c/l, excluding VAT.

This is the first time Kerry's milk price has changed since July 2022.

Kerry was the second major milk processor to announce its January milk price on Monday 13 February, with Lakeland Dairies being the first.

The Co Cavan-based milk processor also cut its milk price by over 10% and will pay farmers 50.09/l excluding VAT at 3.6% butterfat and 3.3% protein.