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Glanbia and Lakeland Dairies set milk price for February

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Glanbia and Lakeland Dairies have announced their milk price for February supplies.

Glanbia Ireland (GI) will pay a base milk price for February of 31 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from the January base price.

Glanbia will pay its Member milk suppliers 34.42 cent per litre (cpl) (including VAT) for February creamery milk supplies at 3.6% butterfat and 3.3% protein.

Lakeland also held its milk price for February supplies.

In the Republic of Ireland, Lakeland will pay a base price of 31.81c/litre (including VAT and Lactose bonus) will be paid for milk supplied in February.

In Northern Ireland, a base price of 25.25p/l will be paid for February – again the base price has been held.

Commenting on the price, the Co-op said overall, the global dairy markets continue to be extremely volatile with consumption as well as transport and logistical networks severely affected as a result of the Coronavirus fallout.

“Returns for most products are under pressure too.

“Lakeland Dairies will continue to monitor the market situation closely over the coming weeks,” it said.

Meanwhile, Glanbia Chairman Martin Keane also said the global spread of Coronavirus is affecting dairy supply chains and ultimately trade.

"Our immediate priorities are to ensure the safety of our people and to assist our farmer suppliers and customers to work through the challenges. We urge everyone to follow the official advice from the HSE and other appropriate authorities.”

Online Editors