The board of Lakeland Dairies has in the present day (Friday, November 11) confirmed that it’s going to once more maintain its present milk worth degree.
It’s the first processor to announce a worth for milk provided in October.
Within the Republic of Eire, the processor has maintained the value of 58.85c/L, inclusive of VAT, for milk at 3.6% fats and three.3% protein.
Lakeland mentioned that this contains the supplementary enter help fee of 1.5c/L, inclusive of VAT, for all suppliers, together with these with mounted milk-price contracts.
The help fee was launched in August in recognition of “the unwelcome results of inflation within the rising of all farm inputs”.
The processor additionally confirmed that each one suppliers within the Republic of Eire on mounted milk worth contracts will obtain an 8c/L supplementary fee, plus the extra 1.5c/L enter help fee.
In Northern Eire, Lakeland Dairies has maintained the value of 47.5 p/L which incorporates an enter help fee of 1.5p/L.
All suppliers with mounted milk-price contracts will obtain a 7p/L supplementary fee, along with the help fee.
“International dairy markets, together with Asian markets, have remained beneath rising stress in latest months with costs and demand each weakening very considerably previously month,” a spokesperson for Lakeland mentioned.
“Geopolitical and financial points, together with inflation, rates of interest and vitality pricing, proceed to have an effect on total market dynamics at each degree.
“These elements are resulting in decreased demand the place sentiment amongst dairy consumers and shoppers is turning into severely challenged in step with more and more risky market circumstances.
“Lakeland Dairies continues to watch market developments,” the spokesperson added.