Lakeland Dairies has become the latest processor to announce its milk price for the month of September – opting to increase its offering for the second month running.
The board of the processor has increased its base price in the Republic of Ireland by 1c/L to 37.5cL, including VAT, for milk at constituents of 3.3% protein and 3.6% butterfat.
For Northern Ireland, Lakeland has opted to increase its price by 0.6p/L to 30.1p/L.
While announcing these prices today (Wednesday, October 13), the processor said that “global dairy markets remain steady at present, with some seasonal adjustment in milk taking place across Europe and currently stable patterns of international demand”.
“Economies around the world continue in various stages of recovery from the Covid-19 pandemic,” the processor added.
It said it will “continue to monitor the market closely in the coming weeks”.
The processor is the third of the major dairy businesses to reveal its milk price for September supplies.
On Monday (October 11), Glanbia announced an increase to its price, confirming that it would pay its member milk suppliers 36.6c/L including VAT for September milk, at 3.3% protein and 3.6% butterfat.
Glanbia Ireland (GI) will pay a base price for September of 36.18c/L including VAT at those constituents. This is an increase of 1c/L including VAT from the price for August milk supplies.
Farmer members will also receive a 0.42c/L including VAT payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.
And earlier today, Kerry Group announced its price, which also saw an increase for the month of September.
The group’s base price for September milk supplies will increase by 1c/L to 36c/L including VAT at 3.3% protein and 3.6% butterfat.
According to the group, based on Kerry’s average milk solids for September, the milk price return inclusive of VAT and bonuses is 42.37c/L.