Lakeland Dairies has increased its July milk price by 1c/l.

Suppliers in the Republic of Ireland will receive 29.4c/l excluding VAT, while those in Northern Ireland will receive 25.25p/l.

Commenting on the price, Lakeland Dairies said: “The dairy markets are delicately poised, with demand subdued and milk production across Europe and the US moving into growth. This dynamic will need to be closely watched."

Stability

“There is stability, for now, in the markets, but the re-emergence of COVID-19 nationally and internationally is concerning, especially for the food service sector.

"As well as the supply-demand dynamic and COVID-19, lack of progress on a free trade agreement between the EU and the UK is worrying.

“Lakeland Dairies will continue to monitor the market closely in the coming weeks.”

Lakeland is the second co-op to set a price for July milk. Glanbia announced an unchanged price for last month.

Glanbia holds July milk price

Lakeland Dairies lifts milk price for June supplies

Lakeland increases July milk price

Lakeland Dairies is the second co-op to set a price for July milk supplies.