The board of Lakeland Dairies has today (Monday, June 13) announced the co-operative’s milk price for May, which includes supplementary payments for suppliers on fixed-price contracts.
In the Republic of Ireland, Lakeland has increased its milk price by 2c/L to pay 52.10 c/L for May supplies, inclusive of VAT, for milk at 3.6% fat and 3.3% protein.
On average, the Lakeland Dairies pay out in the Republic of Ireland (ROI) will be 54.47c/L for May milk.
In the ROI, all fixed milk-price contracts will receive an 8c/L supplementary payment.
Last month, the processor broke the 50c/L barrier for base milk price for supplies during the month of April.
In Northern Ireland, Lakeland Dairies has increased its milk price by 1.5p/L to 41.5p/L.
On average, Lakeland Dairies will pay out 43.03p/L for May milk in Northern Ireland including adjustments for constituents and quality, and volume bonuses and zero cartage charges.
Suppliers in Northern Ireland on fixed milk-price contracts will receive a 7p/L supplementary payment.
In a statement, the board of Lakeland noted that dairy markets remain “firm” as tighter global supplies trail current demand trends.
“Inflation is affecting farmers, processors and food manufacturers at every level,” they added.
“Market sentiment is becoming more challenged as rising costs affect all categories of goods and services and the war in Ukraine has continuing far reaching impacts.
“The markets will continue to provide good returns for the foreseeable future. Lakeland Dairies continues to monitor market developments,” the board concluded.
Last week, Glanbia announced that it will pay its milk suppliers a total of 52.08c/L, including VAT, for May milk supplies at 3.6% butterfat and 3.3% protein.
This included an increase in the processor’s Agri-Input Support Payment by 2c/L to 5c/L on all milk supplied in May.
Meanwhile, Kerry Group confirmed today that it will pay a base price of 51.5c/L, including VAT, at constituents of 3.3% protein and 3.6% butterfat.