Lakeland Dairies sets milk price level for March

In Northern Ireland, Lakeland Dairies has reduced the milk price by 3.5p/litre to 35 p/litre. The March price includes a supplementary Input Support Payment of 1.5 p/litre for all suppliers.

In the Republic of Ireland, Lakeland Dairies has reduced the milk price by 4 cent/litre to 42.85 cent/litre inclusive of VAT, for milk at 3.6 per cent fat and 3.3 per cent protein. The March price includes an Input Support Payment of 1.5 cent/litre, inclusive of VAT, for all suppliers.

Volatile economic conditions, diminished consumer confidence and reductions in demand from dairy buyers are yielding consistently lower market returns, while global dairy supplies continue to run ahead of these reduced demand levels. This has necessitated an ongoing correction in milk prices pending any return to more balanced supply and demand conditions.

Lakeland Dairies is seeking to implement any such adjustments arising from this market correction as sustainably as possible in the full understanding that milk producers are operating in a high-cost environment.

The co-operative’s intention remains at all times to pay as high a milk price as possible in line with currently unpredictable market conditions.