The Lakeland Dairies Board has decided on a price for milk supplied in September.
A base price of 34c/L at constituents of 3.6% butterfat and 3.3% protein, will be paid for September milk in the Republic of Ireland.
The base price is unchanged from the price paid in August.
In Northern Ireland, a base price of 27.25p/L will be paid for milk supplied in September. Again, the base price has been held for September supplies.
In a statement, the co-op said: “While sentiment in the global dairy market has shown some tentative signs of improvement in recent weeks, there has been little in the way of increased activity with buyers continuing to take a reserved position.
“We are entering a crucial demand period for dairy, against a backdrop of New Zealand approaching its peak milk supply months.
“Lakeland Dairies will continue to monitor the markets closely in the time ahead.”
It is the first processor to announce its price for milk supplied in September
Last month, Aldi Ireland agreed four major new deals with Irish-based suppliers, including Lakeland Dairies, worth more than €26 million.
Lakeland signed a deal worth €15.3 million per year with Aldi which will see the processor’s footprint grow as it continues to supply milk and dairy products, including Clonbawn fresh and light milk.
Meanwhile, last week, Lakeland Dairies set a target of a 30% reduction in factory emissions by 2030 in its new sustainability strategy.
The strategy, titled ‘Pathway to a Better Future’, sets several targets the processor aims to meet by 2030.
Among these targets are 30% reductions in emissions in both factory processes (including the processor’s own emissions production and emissions from its energy consumption), and emissions at farm level.
According to Lakeland, its strategy is based on six ‘pillars’, namely: Climate action; sustainable farms; supply chains; people and communities; sustainable operations; and responsible business.