Lakeland Dairies announces milk price increase

The co-operative will now pay a milk price of 30.5p per litre.

In the Republic of Ireland, Lakeland Dairies has increased its milk price by 0.5 cent per litre and will pay a base milk price of 38cpl, including VAT, for milk at 3.6 per cent fat and 3.3 per cent protein.

Global dairy markets remain strong at present with continuing restrained milk supply across Europe, New Zealand and the United States.

Strong purchasing and consumption from Asia is also a key market driver.

Lakeland Dairies will continue to monitor the market closely in the coming weeks.