Lakeland Dairies has revealed its July milk price to its suppliers, revealing an increased price, according to Agriland.ie.
Its increased base milk price will be 32.78c/l, including VAT.
The supplier said that the increase in price recognises the difficult conditions that dairy farmers after a particularly dry summer.
The border county supplier has also introduced a €20/t discount on every tonne of fertiliser bought by milk suppliers and shareholders. This is effective from August 1 to the end of the fertiliser spread season.
Lakeland said that it will continue to pay the highest price possible, within market conditions which it admitted remains variable.
Last month, the Irish Farmer’s Association expressed its disappointment with Lakeland’s ”missed opportunity” to increase its base milk price for June.
This month, however, the IFA has praised many co-ops, suppliers, and retailers for the increased cash-flow to farmers.
Kerry Group recently announced its own increased base milk price for July, in addition to revealing plans to introduce a new payment scheme for its milk suppliers.
Glanbia has also announced that it will pay its member milk suppliers 32c/l, including VAT, adding a 1c/l bonus on top of its 31c/l base price for June.
All groups have said that the increase in price comes from the unruly weather conditions since the start of the year which has put numerous strains on farmers.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.