Lakeland Dairies suppliers are set to receive an increase of 2.87c/l, excluding VAT, on March’s base milk price compared with February.

Lakeland Dairies has announced a base milk price of 34.68c/l, excluding VAT, for the month of March based on 3.6% butterfat and 3.3% protein.

This includes a sustainability payment of 0.48c/l, excluding VAT.

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However, the out-of-season bonus, early calving bonus and additional input support are now over.

Northern Ireland

In Northern Ireland, the co-op will pay a base milk price of 28.85p/l for March milk, which is also inclusive of the sustainability incentive payment, resulting in an increase of 2.55p/l on February’s base price.

A spokesperson for Lakeland Dairies said: “Global milk output remains very strong, with volumes in all regions still running well ahead of expectations.

“This is putting pressure on the product price recovery which had appeared during Q1.

“Overall conditions are finely balanced, with added uncertainty continuing to stem from ongoing geo-political pressures.

“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.”