Lakeland's milk price jumps almost 4cents per litre
While the milk price paid by Lakeland Dairies continued on its upward trajectory, it fell short of the figure the ICMSA had sought last week.
The Board of Lakeland Dairies today set the co-operative’s milk price for March at 47.1 cent/litre inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein. This equates to an increase of 3.6 cent/litre.
The co-op states that on average, the pay out in the Republic will be over 50.28cent/litre for March milk.
For suppliers in the North, Lakeland Dairies has increased its milk price by 2.8 p/litre to 37.5 p/litre. On average, Lakelands will pay out over 39 pence/litre for March milk in Northern Ireland including adjustments for constituents and quality and volume bonuses.
The figures may not satisfy the ICMSA however. Their Dairy Committee Chairperson, Noel Murphy, had last week called on all co-ops and milk purchasers to bring base milk price up to 50cpl for March supplies. Outlining the spike in input costs - across fertiliser, feed and energy and the buoyant prices co-ops were achieving for the processed milk, Mr Murphy insisted: "farmers are absolutely entitled to see their milk price hit that figure [of] 50cpl for March milk. Co-op boards need to recognise reality and realise that everyone else can see the real situation also.”
Announcing today's price rise, a Lakeland Dairies spokesman outlined: "Dairy markets continue to be stable underpinned by moderate levels of supply in key dairy producing regions and solid demand in key markets, On-farm and dairy processing costs have increased significantly on every front."