Lakeland Dairies increases milk price for April

In Northern Ireland, Lakeland Dairies has increased its milk price by 2.5 p/litre to 40 p/litre.

On average, Lakeland Dairies will pay out 42.1 pence/litre for April milk in Northern Ireland including adjustments for constituents and quality, and volume bonuses and zero cartage charges.

In the Republic of Ireland, Lakeland Dairies has increased its milk price by 3 cent/litre to pay 50.1 cent/litre inclusive of VAT, for milk at 3.6% fat and 3.3% protein.

On average, the Lakeland Dairies pay out in ROI will be 53.02 cent/litre for April milk.

Dairy markets are balanced, with an uptick in milk supply, however a demand challenge is now emerging as higher prices feed through to consumers.

Inflationary pressures continue to bite at farm, processor, food production and consumer levels. Some key Asian markets remain significantly impacted by the pandemic, and the war in Ukraine continues to affect market sentiment on a global basis.

However, the overall view is that the markets will continue to provide good returns for the foreseeable future.

Lakeland Dairies said it will continue to monitor market developments.