Lakeland Dairies has become the first processor to set its price for January 2022 milk supplies.
In a statement on Thursday, February 10th, 2022, the board of Lakeland Dairies confirmed the co-operative’s milk price.
The spokesperson said:
“In the Republic of Ireland, Lakeland Dairies has increased its milk price by 1 cent/litre to pay 41 cent/litre inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein.”
Meanwhile, in Northern Ireland, Lakeland Dairies has increased its milk price by 0.8 p/litre to 32.7p/litre.
January 2022 milk price
The spokesperson noted that there is a “general stability” at present in global dairy markets.
They pointed to a balance in supply and demand, “positive” trends in dairy commodities and improvements in consumer sentiment as economies continue their reopening.
The spokesperson added that the processor would continue to monitor market developments.
December milk price
The processor was also the first to announce its December 2021 milk price.
In a statement last month, a spokesperson for the milk processor said:
“In the Republic of Ireland, Lakeland Dairies has increased its milk price by 0.5 cent/litre to pay 40 cent/litre inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein.”
“Meanwhile, in Northern Ireland, Lakeland Dairies has increased its milk price by 0.4 p/litre to 31.9p/litre.”
At the time, the spokesperson said global dairy markets are “relatively strong”. They pointed to a “general” balance in supply and demand worldwide and “strong” demand in Asia.
Breaking the 40c/L mark
Meanwhile, last month, the ICMSA said the breaking of the 40c/L ceiling is indicative of a trend that the farm group expects to continue through at least the first half of 2022.
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