Lakeland Dairies has followed Glanbia’s and Kerry Group’s lead by increasing its milk price by 2c/L for May supplies.
In a statement to That’s Farming this afternoon (Monday, June 13th, 2022), a spokesperson for the board of Lakeland Dairies confirmed that it has decided the co-operative’s milk price for May.
A spokesperson for the milk processor said:
“In the Republic of Ireland, Lakeland Dairies has increased its milk price by 2c/L to pay 52.10c/L inclusive of VAT, for milk at 3.6% fat and 3.3% protein.”
“On average, the Lakeland Dairies pay-out in ROI will be 54.47c/L for May milk,” the spokesperson noted.
In ROI, the spokesperson confirmed that all fixed milk price contracts will receive an 8c/L supplementary payment.
Furthermore, in Northern Ireland, Lakeland Dairies has increased its milk price by 1.5p/L to 41.5p/L.
On average, Lakeland Dairies will pay out 43.03p/L for May milk in Northern Ireland, including adjustments for constituents and quality, volume bonuses, and zero cartage charges.
In Northern Ireland, all fixed milk price contracts will receive a 7p/litre supplementary payment.
The spokesperson noted that dairy markets remain “firm” as tighter global supplies trail current demand trends.
They noted that Inflation is impacting farmers, processors, and food manufacturers at “every level”.
The spokesperson noted:
“Market sentiment is becoming more challenged as rising costs impact all categories of goods and services, and the war in Ukraine has continuing far-reaching impacts.”
“The markets will continue to provide good returns for the foreseeable future. Lakeland Dairies continues to monitor market developments,” the spokesperson noted.
May milk prices
It increased its base milk price by 2c/L on last month’s 49.5c/L (including VAT).
In a statement, a spokesperson said:
“Our Kerry Group base price for May milk supplies will increase to 51.5c/l incl VAT at 3.30% Prot/3.60% Bfat and 56.39c/l incl Vat at EU standard constituents 3.40% Prot/4.20% Bfat.”
“Based on Kerry’s average milk solids for May, the milk price return inclusive of VAT and bonuses is 54.69c/L,” the spokesperson concluded.
Glanbia milk price
Glanbia became the second milk co-op to set its price for May 2022 supplies.
It will pay milk suppliers 52.08c/L (including VAT) for May milk supplies at 3.6% butterfat and 3.3% protein.
This is an increase of 2c/L on the April milk price.