In the Republic of Ireland (ROI), Lakeland Dairies has increased its milk price for May milk supplied by 2c/l to pay its producers 49.38c/l, excluding VAT, for milk at 3.6% fat and 3.3% protein.

In ROI, the dairy processor says all fixed milk price contracts will receive an 8c/l supplementary payment.

Announcing the price decision on Monday, Lakeland Dairies said dairy markets remain firm, as tighter global supplies trail current demand trends.

A spokesperson said: “Inflation is affecting farmers, processors and food manufacturers at every level. Market sentiment is becoming more challenged, as rising costs affect all categories of goods and services and the war in Ukraine has continuing far-reaching impacts.”

They forecast that the markets will continue to provide “good returns for the foreseeable future” and said the processor continues to monitor market developments.

Competitors

Elsewhere, on Friday, Glanbia Co-op said it will pay its milk suppliers a farmgate price of 49.62c/l, excluding VAT, at base solids for May milk supplies. Glanbia’s May price is also up 2c/l on the price paid for April milk.

On Thursday, Kerry Group announced it will pay suppliers 48.8c/l, excluding VAT, for May milk supplied at 3.3% protein and 3.6% butterfat. This is a 1.8c/l increase in price compared with April.