Lakeland Dairies sets milk price for April
A base price of 48.75c/L – based on 3.6% butterfat and 3.3% protein – will be paid for April milk in the Republic of Ireland (ROI) – which is inclusive of the 0.5c/L Sustainability Incentive Payment.
The co-op said that the base price has been held from last month.
Meanwhile in Northern Ireland (NI), a base price of 39.8p/L will be paid for milk supplied in April which is inclusive of the 0.5p/l Sustainability Incentive Payment.
The base price has been held from last month.
Lakeland Dairies
According to the Lakeland Dairies Board 'global dairy markets remain relatively stable at present despite geopolitical tensions and uncertainty over the global economic performance'.
However it added: 'Crucially, the supply/demand dynamic remains largely in balance, which is providing market stability.
'Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can'.
The co-op's position on global dairy market is underlined by the results of the latest Global Dairy Trade (GDT) auction, which saw the price index increase by 4.6% last week.
The GDT Price Index rose to 1,344 – compared to the previous index figure on April 15 which was 1,285.
But the group chief executive officer (CEO) of Lakeland Dairies did also highlight to Agriland last month that US President Donald Trump's policy on tariffs has created a 'huge level of uncertainty'
Colin Kelly said that, while Lakeland is not as directly exposed to the tariffs as other businesses may be, the impact of President Trump's decision – and how the EU responds – on the global economy is the more pressing concern for the dairy business.
Lakeland, as a processor with facilities and milk suppliers in both the Republic of Ireland and Northern Ireland, is also faced with the challenge of having to observere two different tariff rates, as the US president announced a 10% tariff for the UK but 20% for the EU.
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