Other milk processors must follow the lead of Glanbia and Lakeland when it comes to setting milk price in the coming days, the ICMSA dairy committee chair has said.
Ger Quain has said that the ICMSA had asked all milk purchasers to pay at least 34c/l for February milk in line with dairy market data and on foot of the other good news about the decision on US tariffs.
“Glanbia and Lakeland are two of the biggest processors of milk in Ireland and it’s encouraging to see them step up in this way.
“We expect the base price to move up again next month in line with already visible data and, as the seasonal payments end in March, the base price will absolutely have to move up to cover that element of payment.
“We expect announcements by other processors over the next few days to follow the Glanbia and Lakelands move,” Quain said.
Ger Quain welcomed the boost to Glanbia milk price this week, adding that the maximum attainable price for Glanbia members now stands at 36.1c/l for February milk and brings Glanbia Ireland into line with the market returns and expectations.
For Lakeland suppliers, he said they will all receive a payment of at least 34.34c/l based on the standard 3.3% protein and 3.6% butterfat.