Lakeland Dairies has increased its milk price in the Republic of Ireland for June supplies by 3c/l to pay 52.22/l, excluding VAT, for milk at 3.6% fat and 3.3% protein.
All fixed milk price contracts will receive an 8c/l supplementary payment, a Lakeland spokesperson added.
In Northern Ireland, Lakeland has increased its milk price by 2.5p/l to 44p/l and all fixed milk price contracts will receive a 7p/l supplementary payment.
“The dairy markets continue to yield strong returns given limited milk supply growth from key dairy producing regions due mainly to seasonality and higher input costs,” a Lakeland spokesperson said.
“Inflationary pressures continue to impact at every level of the dairy supply chain from farming, through processing and food manufacturing and onwards into the market.
“Current market conditions will continue to provide good returns for the foreseeable future. Lakeland Dairies continues to monitor market developments,” the spokesperson added.
Lakeland is the second processor to set a price for June supplies this Monday.
Kerry Group also announced it will pay suppliers 50.71c/l excluding VAT for June milk.
Its June price is an increase of almost 2c/l on the 48.8c/l excluding VAT it paid farmers for May milk.