Lakeland increases August milk price
and live on Freeview channel 276
Recognising the unwelcome effects of inflation in the rising costs of all farm inputs, the Board of Lakeland Dairies has implemented a supplementary payment for all suppliers, including suppliers on fixed milk price contracts.
In Northern Ireland, Lakeland Dairies has raised its milk price by 1.5 p/litre to 47.5 p/litre.
This reflects a new Input Support Payment of 1.5 p/litre.
Advertisement
Advertisement
On average, Lakeland Dairies will pay out 48.98 pence/litre for August milk in Northern Ireland including adjustments for constituents and quality, and volume bonuses and zero cartage charges.
In Northern Ireland, all fixed milk price contracts will receive a 7 p/litre supplementary payment, plus the additional 1.5 p/litre Input Support Payment.
In the Republic of Ireland, Lakeland Dairies has raised its milk price by 1.5 cent/litre to pay 58.85 cent/litre inclusive of VAT, for milk at 3.6% fat and 3.3% protein.
This reflects a new Input Support Payment of 1.5 cent/litre, inclusive of VAT.
Advertisement
Advertisement
On average, the Lakeland Dairies pay out in ROI will be 63.6 cent/litre for August milk. In ROI, all fixed milk price contracts will receive an 8 c/litre supplementary payment, plus the additional 1.5 c/litre Input Support Payment.
Global dairy markets are finely balanced at present as the rate of milk supply levels off and inflationary pressures continue to drive a cooling off in demand for higher priced product categories. Geopolitical and economic issues continue to affect market and consumer sentiment alongside the potential impacts of an energy crisis in Europe.