Lakeland Dairies increases milk price for May
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On average, Lakeland Dairies will pay out 43.03 pence/litre for May 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 seven pence per litre supplementary payment. In the Republic of Ireland, Lakeland Dairies has increased its milk price by two cent/litre to pay 52.10 cent/litre inclusive of VAT, for milk at 3.6 per cent fat and 3.3 per cent protein. On average, the Lakeland Dairies pay out in ROI will be 54.47 cent per litre for May milk. In ROI, all fixed milk price contracts will receive an eight cent/litre supplementary payment. Dairy markets remain firm as tighter global supplies trail current demand trends. Inflation is affecting farmers, processors and food manufacturers at every level. 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.