Lakeland Dairies announces milk price for September

The Board of Lakeland Dairies has decided the co-operative's milk price for September.In Northern Ireland, Lakeland Dairies has maintained the price of 47.5 p/litre.This includes an Input Support Payment of 1.5 p/litre. This supplementary payment was introduced in August recognising the rising costs of all farm inputs and payable for all suppliers, including fixed milk price contracts.On average, Lakeland Dairies will pay out 49.51 pence/litre for September 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 maintained the price of 58.85 cent/litre inclusive of VAT, for milk at 3.6% fat and 3.3% protein.This includes a supplementary Input Support Payment of 1.5 cent/litre, inclusive of VAT.On average, the Lakeland Dairies pay out in ROI will be 67.45 cent/litre for September 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 continue to reflect ongoing economic volatility, including inflation, and concerns relating to energy pricing and the overall cost of living. Asian market demand has also softened further.