Lakeland Dairies Increases April Milk Price Amid Market Fluctuations

Lakeland Dairies has decided to raise the milk price for April by 0.75 cents per litre, in response to market changes. The cooperative's board has agreed on a base price of 37 cents per litre, based on standard butterfat and protein percentages, for suppliers in the Republic of Ireland. This price includes a 0.5 cents per litre Sustainability Incentive Payment.

In Northern Ireland, the base price has been set at 29.60 pence per litre, which also incorporates the Sustainability Incentive Payment. This marks an increase of 0.75 pence per litre for the region.

A spokesperson for Lakeland Dairies commented on the market conditions, stating that while milk powder markets have strengthened recently, this has been counterbalanced by weaker returns from butter and other fat products.

The cooperative continues to monitor the global market, noting that supply is outpacing demand and geopolitical tensions are contributing to ongoing uncertainty.