Lakeland Dairies holds base milk price for May

Lakeland Dairies has announced that it has maintained its milk price, holding the base milk price at 31.78c/L including VAT for May milk supplies.

The bad weather support payment of 1.5c/L from the April price has been withdrawn, however.

Suppliers in Northern Ireland, meanwhile, will receive 26.5p/L for May milk.

While global market conditions remain difficult, there has been some improvement in skim markets from a record low base and butter returns continue to carry milk prices, the processor explained.

Chairman Alo Duffy said: “After a difficult late spring, the farmer owned and controlled Lakeland Dairies Co-operative is committed to paying the maximum possible milk price to our milk suppliers.”

‘Milk production will increase 50% per farm by 2030’

Between now and 2030, worldwide demand growth for milk and milk products will be three times the level of current US milk production.

This was one of the main findings of the latest publication from the IFCN (International Farm Comparison Network) – the dairy research network – that was discussed at the 19th IFCN Dairy Conference, which opened yesterday (Monday, June 11), in Teagasc, Moorepark, Co. Cork.

Today, about 876 million tonnes of milk is produced worldwide – with Oceania, the EU and India among the leading producers.

But how much additional milk is needed in 2030?

Dr. Torsten Hemme, managing director of the IFCN, stated: “More milk will be needed on the market.

“The increase of demand is not only due to more people living in the world, but also the per capita consumption will increase – due to growing prosperity and worldwide investments in dairy product development.”