Lakeland Dairies has announced a milk price cut of 1c/l for April. The cut was announced on Tuesday.
In the Republic of Ireland, a base price of 27.5c/l (ex VAT) will be paid for milk supplied in April at 3.3% protein and 3.6% fat. This represents a reduction of 1c/l on the March milk price.
In Northern Ireland, a base price of 23p/l will be paid for April milk. This is a reduction of 0.75p/l on the March price.
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Commenting on the price, Lakeland Dairies said the global dairy markets continue to feel the effects of the COVID-19 fallout.
“The ongoing shutdown of the foodservice sector across Europe continues to cast a shadow on the global dairy markets. With milk destined for foodservice flooding into butters and powders, returns for all dairy products are back significantly with a weak European sentiment as a result of COVID-19 hampering any recovery."
Global dairy markets have improved in recent weeks with European prices rising this week on the back of improved sentiment. The latest GDT also stabilised.
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Lakeland Dairies has announced a milk price cut of 1c/l for April. The cut was announced on Tuesday.
In the Republic of Ireland, a base price of 27.5c/l (ex VAT) will be paid for milk supplied in April at 3.3% protein and 3.6% fat. This represents a reduction of 1c/l on the March milk price.
In Northern Ireland, a base price of 23p/l will be paid for April milk. This is a reduction of 0.75p/l on the March price.
Commenting on the price, Lakeland Dairies said the global dairy markets continue to feel the effects of the COVID-19 fallout.
“The ongoing shutdown of the foodservice sector across Europe continues to cast a shadow on the global dairy markets. With milk destined for foodservice flooding into butters and powders, returns for all dairy products are back significantly with a weak European sentiment as a result of COVID-19 hampering any recovery."
Global dairy markets have improved in recent weeks with European prices rising this week on the back of improved sentiment. The latest GDT also stabilised.
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