The Board of Dairygold yesterday decided to reduce the price for milk supplied in March by 1c/L including VAT.

For March supplies, members will receive 23c/L including VAT, a spokesperson for the co-op confirmed.

Last month, Dairygold also cut its price for February supplies of milk, by 1.5c/L with member suppliers being paid 24c/L for February milk.

Earlier this week, LacPatrick co-op held its milk price for March at 24.25c/L (including VAT), while last week, Kerry Group also held its milk price for March at 25c/L.

Meanwhile, Glanbia cut 2c/L off its March market price, bringing the price for March supplies to 22c/L (including VAT).

Glanbia will pay its member suppliers 24c/L (including VAT) for March manufacturing milk supplies.

This price is inclusive of a 1c/L Glanbia Co-Operative Society (“the Society”) support payment to its members and the advance distribution by GII of a 1c/L “Additional Cash Bonus” from Ornua.

Henry Corbally, Glanbia Chairman, said that the Board and management of Glanbia is acutely conscious that the current weakness in dairy market returns, as well as the challenging weather, is extremely difficult for milk suppliers.

Lakeland Dairies also cut its milk price for March supplies by 1c/L.

Farmers supplying Lakeland Dairies will receive a base milk price of 24.78c/L (including VAT) for March collections along with a lactose bonus of 0.28c/L.

In February, the co-op held its base milk price for February supplies of milk at 25.78c/L (including VAT and lactose bonus).