The board of Lakeland has decided to raise October milk price by 1c/l, bringing the amount to 25.6c/l excluding VAT.

Last month, Lakeland also raised its milk price by 1c/l.

Lakeland has at this stage increased its milk for the past four months as more life enters the dairy markets.

In October the purchase price index (PPI) increased for the fourth consecutive month. The index came to 95.9 in October, up from September’s PPI of 92.2.

According to Ornua, October’s PPI equates to a farmgate price of 27.9c/l for October milk.

And, earlier this month, the GDT surged by more than 11% following a sharp rise in WMP prices.

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