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Thursday 16 August 2018

LacPatrick increases milk price for June supplies

LacPatrick is one of the biggest dairy co-ops in the Border region
LacPatrick is one of the biggest dairy co-ops in the Border region

The board of LacPatrick Dairies met today (18 July) and set a milk price for June supplies.

Suppliers in the Republic of Ireland will receive a base price of 31c/l (VAT inclusive) for milk supplied in June. This is an increase of 0.75c/l on May supplies.

Suppliers in Northern Ireland will receive a base price of 26.5p/litre for milk supplied in June. This is an increase of 0.5p/l on May supplies.

Yesterday, the Dairygold Board has today decided to maintain the base price paid for milk supplied in June at 32cpl inclusive of 0.5cpl quality bonus and VAT, based on standard constituents of 3.3% Protein and 3.6% Butterfat.

Earlier this week, Kerry Group base price for June milk supplies is unchanged at 31 cpl vat inclusive.

Last week Glanbia Ireland (GI) announced that it will increase its base milk price for June by 2 cents to 31 cpl including VAT, for manufacturing milk at 3.6pc fat and 3.3pc protein.

In addition, Glanbia Co-op will make a drought related support payment to Members of 1 cpl including VAT, for June manufacturing milk at 3.6pc fat and 3.3pc protein.

The Glanbia Ireland base price and the Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

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Martin Keane, Glanbia Chairman, said: “We are pleased to increase our milk price for the highest milk volume month of the year.

"This reflects increased returns, particularly for butter. However, market balance remains fragile, with the impact of trade wars and consumer resistance to higher retail prices being two issues that need to be monitored very closely in the coming months”.

Meanwhile, Lakeland Dairies held the base milk price at 31.78 cents per litre including VAT for June milk supplies.

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