Lakeland Dairies increases milk price

In the Republic of Ireland, a base price of 30c/litre (including VAT) will be paid for milk supplied in June. This represents a price increase of 1c/l on the May price.

Lakeland Dairies has announced a milk price for June – with the base price increasing.

In the Republic of Ireland, a base price of 30c/litre (including VAT) will be paid for milk supplied in June. This represents a price increase of 1c/l on the May price.

In Northern Ireland, a base price of 24.25p/l will be paid for June milk. This is an increase of 1.25p/l on the May price.

Commenting on the price, Lakeland Dairies said: “Following the collapse in the global markets, particularly in the foodservice sector, as a result of the outbreak of the COVID-19 global pandemic, an element of stability has returned in recent weeks. Lakeland Dairies is in a position to pass on improved returns directly to our 3,200 farm families.

The processor added that while sentiment has “improved”, there continues to be “significant market uncertainty” around issues such as a second wave of COVID-19, what the shape of a trade deal between the EU and the UK will look like, increasing milk supply in Europe and currency fluctuations. “Any one of these issues has the potential to cause disruption to the dairy markets.

“Lakeland Dairies will continue to monitor the market closely in the coming days and weeks,” the statement concluded.