The board of Lakeland Dairies has increased the price paid for April supplies of milk by 0.72c/l to 35.40c/l, excluding VAT.

The price is inclusive of the 0.47c/l, excluding VAT, sustainability incentive payment.

In Northern Ireland (NI), a base price of 29.60p/l will be paid for milk supplied in April, which is also inclusive of the sustainability incentive payment. This is an increase of 0.75p/l.

“Generally, the market remains similar to last month, as global supply continues to outpace demand and ongoing geopolitical tensions continue to bring uncertainty,” a Lakeland spokesperson said.

“Positively, powder markets have strengthened over the last month, but have been somewhat offset by weaker returns from butter and other fat products.

“Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers with the best milk price possible in line with market conditions,” the spokesperson said.