Lakeland Dairies has announced an increase in milk price for August supplies, with a base price of 37.42c/l ex VAT, inclusive of a sustainability incentive payment worth 0.48c/l ex VAT.
This represents an increase of 0.57c/l ex VAT on July supplies, the second consecutive increase in milk price by the co-op in recent months.
Lakeland has said that the market has improved throughout the month of August.
“Global milk production remains high, but the rate of growth is slowing," it stated. "This will help to bring a better balance between supply and demand in the months ahead.
"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.”
The base price for Northern Ireland for August milk is 31.4p/l which also includes sustainability incentive payment.
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