Kerry Group has announced it will pay suppliers 50.71c/l excluding VAT for June milk.

The company is the first to set its price for June milk supplied.

Its June price is a near 2c/l increase on the 48.8c/l excluding VAT it paid farmers for May milk.

The 50.71c/l excluding VAT June price will be paid at 3.3% protein and 3.6% butterfat.

Outlook

Meanwhile, the European Commission’s short-term outlook for agri-food markets states that high farmgate milk prices are set to remain over the coming months.

The Commission’s latest analysis suggests that no seasonal milk price relaxation is likely to take place over the summer, as demand looks set to remain high.

It says that farmgate milk prices currently sit 40% higher than the five-year average milk price across all EU member states, but margins for dairy farmers still “remain tight”.