Lakeland reduces milk price by 1 cent

Lakeland Dairies has reduced its milk price for June by 1c. The company made the announcement on Monday evening as farmers across the country struggle with harvests because of the adverse weather conditions.

In a statement to www.longford-leader.ie, Lakeland Dairies said that it had reduced its “base milk price for June” to .29 cents per litre because “dairy market prices are under severe pressure and there is a continuing oversupply of dairy products worldwide”.

“In view of these market conditions, Lakeland Dairies has reduced its base milk price for June by one cent to 29 cents per litre including VAT,” a spokesperson added. “The Board of Lakeland Dairies recognises that Lakeland producers are currently experiencing very unfavourable weather conditions and that this is creating difficulties on all farms. With this in mind, the Board allocated an additional hardship payment of 1 cent per litre for all June milk. This maintains the effective Lakeland Dairies milk price at 30 cents per litre for June 2012.”

In conclusion, the spokesperson stated that “effectively” there had been no reduction in the June milk price paid by the co-op.