Dairygold has increased its milk price by 3.5c/l to 45.02c/l, excluding VAT, for March based on standard constituents of 3.3% protein and 3.6% butterfat.

In addition, Dairygold will pay an early calving bonus of 1c/l, excluding VAT, on milk supplied in March in accordance with milk quality criteria.

A Dairygold spokesperson said: “The weakened supply from all major milk-producing regions and the increase in dairy demand has driven further strength in global dairy markets.

“The war in Ukraine and the uncertainty of global energy costs continues to drive the cost to produce and process milk.

"The situation remains under constant review. As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.”

Other prices

The price announcement follows that of Lakeland Dairies last week, which increased its milk price by 3.4c/l from that paid for February milk, paying 44.6c/l, excluding VAT, for March supplies.

Elsewhere, Glanbia says it will pay its suppliers a base milk price of 44.62c/l, excluding VAT, for March milk supplied. This is an increase of almost 2c/l on February supplies.