Lakeland Dairies has increased its base price by 0.48c/l, excluding VAT, for March supplies.

This brings its base price to 39.9c/l, excluding VAT, for milk supplied at 3.6% fat and 3.3% protein.

The base price includes a 0.48c/l sustainability incentive payment.

A separate 0.95c/l input support payment is being paid on top of the base price.

Northern Ireland

In Northern Ireland, a base price of 32.86p/l, excluding VAT, will be paid for milk supplied in March.

The base price has increased by 0.48p/l and also includes the 0.48p/l sustainability incentive payment, all excluding VAT.

A 0.76p/l, excluding VAT, input support payment will be paid to all Northern Ireland suppliers.

Feed support

The €20/t and £20/t feed rebate in place since November has been increased to €30/t and £30/t. A separate €10/t and £10/t support for straights has been introduced to support farmers in stretching silage stocks.

"Difficult weather conditions in Ireland are also having an impact on farmers across Europe. As a result, spring milk volumes are tempered thus far, albeit it is still early in the spring milk season. This is helping to maintain a delicate balance between supply and demand," a Lakeland Dairies spokesperson said.

Cautious approach

Commodity prices, they said, have settled with general stability in the global dairy market. However, there is a continued cautious approach being adopted by buyers at present with no strong surge in demand.

"We fully recognise the pressure the continued inclement weather is having on farmers and their businesses. We have always sought to deliver as much as we possibly can to our farm families and, for the second time this year, we have introduced an input support payment.

"Lakeland Dairies will continue to explore all options to support our farmers through this challenging time," they said.