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Lakeland Dairies has increased its base price for February by 1c/l for farmers in the Republic of Ireland.
Milk supplied last month will be paid on a base price of 31.6c/l excluding VAT. The co-op's normal out of season bonus applies for February
A special unconditional Lakeland bonus of 1c/l plus VAT will also be paid on all February milk. This same bonus was paid for January, December and November milk.
In Northern Ireland, a base price of 27.25p/l will be paid for February milk. This is an increase of 0.7p/l on January prices. In addition, a special unconditional Lakeland bonus of 1p/l will also be paid.
Demand
“As the European peak season is commencing, there is currently strength in the global market, with the dynamic between the supply of milk being produced and the demand for dairy products from customers largely in balance at present,” a Lakeland spokesperson said.
“COVID-19 continues to influence buyer sentiment as the potential reopening of economies across the world remains under consideration. Lakeland Dairies will continue to monitor the market closely in the coming weeks.”
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