Lakeland Dairies has revealed an increased milk price for last month alongside a fourth consecutive month’s bonus payment.
In Ireland, a base price of 33.34c/L including VAT/ lactose will be paid for milk supplied in February. This is an increase of 1c/L on January. The normal out of season bonus of 5c/L applies for February.
Lakeland Dairies is the first processor to announce its milk price this month and said a special unconditional bonus of 1c/L plus VAT will also be paid on all February milk, which has also been paid every month since November.
“As the European peak season is commencing, there is currently strength in the global market with the dynamic between the supply of milk being produced and the demand for dairy products from customers largely in balance at present,” said Lakeland Dairies.
The cooperative said it will continue to monitor the market closely in the coming weeks.
“Covid-19 continues to influence buyer sentiment as the potential reopening of economies across the world remains under consideration,” it concluded.