Kerry Dairy Ireland has dropped its December milk price by a further 3 cent per litre.
It will now pay 34.5 cent per litre including VAT and quality and sustainability bonuses for milk supplied by farmers last month.
In its monthly statement, the milk processor says this milk price is equivalent to 37.77 cent per litre including VAT at EU standard constituents (3.4% protein and 4.2% butterfat).
Kerry Dairy Ireland says global milk production remains strong, particularly across Europe.
It adds that continued growth in output, coupled with high inventory levels and muted demand from the foodservice sector, continues to exert downward pressure on the dairy market.