Today (Tuesday, April 13th), Lakeland Dairies announced the co-operative’s milk price for March.
In the Republic of Ireland, it will pay a base price of 34.34c/litre (including VAT / Lactose), an increase of 1c/litre on February.
The milk processor will also pay a special unconditional Lakeland Bonus of 1 cent per litre (plus VAT) on all March milk.
Furthermore, in Northern Ireland, it will pay a base price of 28p/litre for March milk. This is an increase of 0.75p/litre on February levels.
Besides, it will pay a special unconditional Lakeland Bonus of 1p/litre on all March milk.
Lakeland Dairies March milk price
Lakeland Dairies commented: “Global milk supply and demand trends are delicately balanced as we enter the peak milk production season in Ireland and Europe.”
“In the main, commodity prices have settled with general stability in the market. Outcomes for the rest of the year will depend considerably on the success of ongoing vaccination programmes and the reopening of economies around the world, combined with milk supply remaining in line with projections and continuing stable demand for dairy products.”
“Lakeland Dairies will continue to monitor the market closely in the coming weeks.” the spokesperson concluded.
Glanbia’s March 2021 milk price
The milk processor will pay its member suppliers 34.6 cent per litre (cpl) (including VAT) for March 2021 creamery milk supplies at 3.6% butterfat and 3.3% protein.
This is an increase of 1.5 cpl (including VAT) from the February base price.
Furthermore, farmer members will also receive a 0.42 cpl (including VAT) payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.
According to a co-op spokesperson, the Glanbia Ireland base price and Co-op Share of GI Profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The Glanbia milk price for March creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 37.65 cpl.