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.

Read more

March milk price cut cost farmers €15m – ICMSA

Co-ops can’t expect farmers to take all the pain – IFA

Glanbia drops April milk price