Arrabawn confirms decision to hold January milk price
Arrabawn has confirmed its decision to hold its January milk price at 37c/L including VAT, following similar decisions by a number of other processors.
This represents the fourth consecutive month that Arrabawn has held its milk price.
Earlier this week, the board of LacPatrick Dairies met and decided to leave its price for January milk unchanged.
Suppliers in the Republic of Ireland will be paid a base price of 35.75c/L including VAT. Meanwhile, in Northern Ireland, LacPatrick will pay suppliers a base price of 29.45p/L.
Commenting on the milk price, LacPatrick Dairies chairman Andrew McConkey said: “We acknowledge that there has been an improved sentiment in the global dairy markets in recent weeks, albeit from a low base.
“However, we still have a significant gap between the current price being paid to our suppliers and the market returns.
Based on the situation as it stands, it would appear inevitable that the gap between the market returns and the price being paid to suppliers will have to narrow.
McConkey added that LacPatrick will “continue to closely monitor the market situation so that we return the highest possible price to our farmers”.