First processor announces milk price increase for June supplies
Lakeland Dairies is the first processor to announce its decision to increase its milk price for June supplies by 1c/L.
Suppliers of Lakeland Dairies will receive a June milk price of 33c/L including VAT. This is the second consecutive monthly increase announced by Lakeland Dairies; it also increased its May milk price by 1c/L last month.
Prior to the May milk price increase, the processor decided to hold to its milk price at 31c/L for three months in a row.
Other processors are expected to announce their June milk prices in the coming weeks.
Meanwhile, during the month of May, milk production on dairy farms in the Republic of Ireland increased by 7.3% compared to the same month last year.
Domestic milk intake by creameries and pasteurisers was estimated at 997 million litres during the fifth month of this year, a rise of 67.4 million litres, the CSO added.
These production figures represent the third consecutive monthly increase on Irish farms in 2017. In April, milk production in Ireland jumped by 12.1%, when compared to the same month in the previous year.
This followed on from a year-on-year increase of 3.9% in March. Prior to this, falls of 4.6% and 7.8% (versus 2016 figures) were recorded in January and February respectively.
In the first five months of the year, a total of 2,905.8 million litres was produced on Irish farms. This represented a jump of 186.1 million litres or an increase of 6.8%, compared to the same period last year.