There’s been a strong performance in the Global Dairy Trade (GDT) price index this month. This has led to good news for farmers as Lakeland Dairies has announced an increase to the base price paid to dairy farmers. The announcement comes due to the general stability in global dairy markets.
Added to this there has been a 4.1% increase in dairy trade. The dairy company last month increased its price by 0.5c/L in Ireland for milk supplied in December.
The board of Lakeland Dairies says that “as economies continue to re-open there are positive trends in dairy commodities and improvements in consumer sentiment”.
The company says that it will continue to monitor the market due to this. It’s understood that farmers will be paid 41c/L, inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein for milk supplied during January. Farmers in Northern Ireland, were paid 31.9p/L by Lakeland for December supplies – that was an increase of 0.4p/L.
The index stood at 1,397 last month, which was an increase of 4.6% on the result of 1,336 on earlier that month. The GDT index has since grown to the 1,400 mark, a first since 4 March 2014.
LSL News.