LacPatrick holds February milk price for some suppliers but cuts for others
LacPatrick has announced that it will hold its February milk price for Republic of Ireland suppliers but has cut the price for Northern Irish suppliers by 2.45c/l.
LacPatrick will pay a price of 35.75c/litre (including VAT) for suppliers in the Republic of Ireland, while suppliers in Northern Ireland will receive a price of 27p/l, this is down from 29.45p/l paid for January milk.
However, the price for Republic of Ireland suppliers includes an unconditional ‘Early Calving Bonus’ of 3c/l.
LacPatrick Dairies Chair Andrew McConkey said the price is reflective of where is the market currently sits.
“It is a challenging time for markets and it is a challenging time for farmers. We have been alerting our suppliers for a number of months that the market returns are way out of line with the farmgate price.
“We have held the price right through the winter period and we have shown a strong commitment to farmers by retaining a strong ‘Early Calving Bonus’ of 3c/l despite the very challenge marketing conditions.
“Our primary focus is ensuring we have a sustainable model for the co-op which includes all farmers. It is our desire to return the highest possible price to farmers,” Mr McConkey said.
This comes in light of Glanbia, Kerry Co-op and Dairygold all cutting its milk prices last week due to fears of oversupply in the marketplace.