The price increase comes as a result of improved prices for butter and cheese.

The FrieslandCampina milk price is calculated on 3.47% protein, 41% fat and 4.51% lactose, with values for protein at €538.69, fat at €269.34, and lactose worth €53.87.

This will bring the average price paid by the co-op to date in 2016 to 27.55c/l.

With milk supplies continuing to fall in both EU and in the North Island in New Zealand, there is expectation of an increase in prices at this Tuesday’s Global Dairy Trade (GDT) auction.

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