Lakeland Dairies sets milk price level for May

The Board has discontinued the monthly Input Support Payment (previously 1.5 cent/litre in ROI and 1.5 p/litre in NI), which was first established in August 2022 onwards.

In Northern Ireland, Lakeland Dairies has held the base price of milk for May at 30 p/litre.

In the Republic of Ireland Lakeland Dairies has held the base price of milk for May at 37.35 cent/litre of VAT, for milk at 3.6 per cent fat and 3.3 per cent protein.

The rate of growth in global milk supply is slowing but it still exceeds demand. With economic volatility still a factor, there is generally weaker consumer sentiment in markets across the world.

Dairy buyers continue to be reserved in their current and forward-looking buying patterns.

Lakeland Dairies re-iterated its commitment to paying the highest possible milk price, in line with market conditions, and continues to monitor market developments closely.