Lakeland Dairies has unveiled its milk price it will pay to suppliers for August, opting to increase its price.
The board of the processor has decided to increase its price, offering 46.5c/L at standard constituents at 3.6% butterfat and 3.3% protein.
This figure is inclusive of a 0.5c/L Sustainability Incentive Payment.
The base price for August reflects an increase of 1.25c/L from last month’s price of 45.25c/L.
In Northern Ireland, a base price of 38.3p/L will be paid for milk supplied in August, which is inclusive of a .05p/L Sustainability Incentive Payment.
The base price has increased by 1p/L from last month’s price.
Commenting on its latest price, Lakeland said: “Global dairy markets are positive at present. As we enter the crucial demand period of quarter of 2024 and quarter one 2025 and, against a backdrop of muted milk supplies for the year, this is supporting global markets.
“Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can,” the processor said.
Lakeland meets enterprise minister
The announcement of the milk price from Lakeland comes after a team from the processor met with Minister for Enterprise, Trade and Employment Peter Burke this week.
The minister heard about the “importance of the dairy and agriculture sectors” to the local economy.
Minister Burke met with Lakeland on the farm of Matt and Anne Kennedy outside Castlepollard, Co. Westmeath last week where the “necessity” of government support for agriculture and dairy farming was highlighted to him.
Colin Kelly, Lakeland Dairies’ group chief executive and the co-op’s group head of sustainability, Rory Farrell, also set out directly to the minister a range of issues that are of major concerns for the co-op’s farm families.
According to Lakeland Dairies’ these included “the critical importance” of retaining the nitrates derogation, climate targets and trade-related issues.
Co-op executives also stressed to the minister the pro-active steps that farmers are are currently taking to “enhance” water quality.