The Lakeland Dairies plant in Bailieborough.

Dairy farmers get 50c/l for April milk

Record price levels continue for Lakeland Dairies suppliers

The record setting milk prices broke the 50cent/litre threshold as the board of Lakeland Dairies announced the co-operative’s milk price for April.

In the Republic of Ireland, Lakeland Dairies has increased its milk price by 3c/l to pay 50.1c/l inclusive of VAT, for milk at 3.6% fat and 3.3% protein. On average, the Lakeland Dairies pay out in ROI will be 53.02c/l for April milk.

In the North, Lakeland Dairies has increased its milk price by 2.5p/l to 40p/l.

On average, Lakeland Dairies will pay out 42.1p/l for April milk in the North, including adjustments for constituents and quality, and volume bonuses and zero cartage charges.

A statement issued by the Co-op's board forecasts "good returns for the foreseeable future", however they caution the market is also experiencing a number of downward pressures.

"Dairy markets are balanced, with an uptick in milk supply, however a demand challenge is now emerging as higher prices feed through to consumers.

Inflationary pressures continue to bite at farm, processor, food production and consumer levels. Some key Asian markets remain significantly impacted by the pandemic, and the war in Ukraine continues to affect market sentiment on a global basis.

"However, the overall view is that the markets will continue to provide good returns for the foreseeable future."