The board of Lakeland Dairies, has today (Friday, June 11th, 2021) confirmed its milk price for May 2021 supplies.
It is the first processor to announce its price for May supplies.
Lakeland Dairies milk price May 2021
In a statement, a spokesperson for Lakeland Dairies said:
“In the Republic of Ireland, Lakeland Dairies has increased its base milk price by 1.66 cpl to 36 cpl, including VAT, for milk at 3.6% fat and 3.3% protein.”
“This 1.66 cpl increase in the base milk price replaces the unconditional bonus which has been paid successively over several months to date.”
“In Northern Ireland, Lakeland Dairies has also replaced its unconditional bonus with an increase of 1.2p/litre in its base milk price to 29.2p/litre.”
The milk processor said there is currently a “reasonable level of stability” in the markets for dairy products.
“European milk supplies have been restricted due to a prolonged period of colder weather to date. This is serving to maintain a level of balance in supply and demand.”
“While global dairy prices remain prone to fluctuation, they are holding steady for now. Demand for food ingredients is recovering on a post-pandemic basis. But, this is not yet consistently the case across all markets.”
“In the foodservice category, it remains to be seen if there is latent demand from consumers to return in large numbers to the foodservice and quick-serve markets as countries worldwide continue a cautious reopening including ongoing vaccination programmes.”
The milk processor said it will “continue to monitor the market closely” in the coming weeks.
March 2021 supplies
Lakeland Dairies paid the same price of 35.40 cpl for April milk to Republic of Ireland suppliers as it did in March.
This was inclusive of VAT and a 1 cent unconditional bonus for all April milk at 3.6% fat and 3.3% protein.
In Northern Ireland, the co-operative paid the same 29p/litre as paid in March, which included a 1p/litre unconditional bonus.