In Northern Ireland, a base price of 28p/litre will be paid for March milk. This is an increase of 0.75p/litre on February. In addition, a special unconditional Lakeland Bonus of 1p/litre will also be paid for all March milk.
In the Republic of Ireland, a base price of 34.34c/litre (including VAT Lactose) will be paid for milk supplied in March. This is an increase of 1c/litre on February. A special unconditional Lakeland Bonus of 1 cent per litre (plus VAT) will also be paid on all March milk.
A spokesperson for Lakeland Dairies commented: “Global milk supply and demand trends are delicately balanced as we enter the peak milk production season in Ireland and Europe. In the main, commodity prices have settled with general stability in the market. Outcomes for the rest of the year will depend considerably on the success of ongoing vaccination programmes and the reopening of economies around the world, combined with milk supply remaining in line with projections and continuing stable demand for dairy products. Lakeland Dairies will continue to monitor the market closely in the coming weeks.”
Meanwhile, Glanbia will pay its Member milk suppliers 34.6 cent per litre (cpl) (including VAT) for March creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for March of 34.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1.5 cpl (including VAT) from the February base price. Farmer Members will also receive a 0.42 cpl (including VAT) payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.