As the first processor announcing its milk price for September supplies, Lakeland Dairies has maintained its current milk price level.
The base price for the Republic of Ireland will remain at 57.35c/L including VAT, for milk at 3.6% fat and 3.3% protein.
A supplementary input support payment of 1.5c/L inclusive of VAT to all suppliers including fixed milk-price contracts, which was introduced in August, remains in place.
The brings the minimum price for each supplier to 58.85c/L.
Lakeland Diaries previously said that the input support payment “recognises the unwelcome effects of inflation in the rising of all farm inputs”.
The average payout to suppliers in the Republic of Ireland for September milk will be 67.45c/L, the processor said.
In the Republic of Ireland all fixed milk-price contracts will continue to receive an 8c/L supplementary payment, plus the additional 1.5c/L input support payment.
In Northern Ireland, Lakeland Dairies said it has maintained the price of 47.5p/L, which also includes an input support payment of 1.5p/L.
On average, Lakeland Dairies will pay out 49.51p/L for September milk in Northern Ireland, including adjustments for constituents and quality, volume bonuses and zero cartage charges.
All suppliers tied into fixed milk-price contracts in Northern Ireland will continue to receive a 7p/L supplementary payment, plus the additional 1.5p/L input support payment.
“Global dairy markets continue to reflect ongoing economic volatility, including inflation and concerns relating to energy pricing and the overall cost of living. Asian market demand has also softened further.
“Consumer sentiment is generally less assured than heretofore, trending towards reduced demand for higher priced product categories, and consequent ongoing effects on market prices.
“Lakeland Dairies continues to monitor market developments,” a spokesperson for the processor has said today.