Lakeland Dairies has followed the example set by Glanbia Ireland and increased its August milk price by 1c/L.
Lakeland Dairies also announced a lactose bonus of 0.28c/L, which brings the Lakeland milk price to 35.28c/L including VAT.
Similar to Glanbia Ireland, this is the fourth consecutive monthly increase announced by Lakeland Dairies; it also increased its May, June and July milk price by 1c/L.
Glanbia increased its milk price for August supplies to 35c/L, also announcing that it will pay its milk suppliers a 1c/L bonus on all milk supplied in January to June of 2017.
Commenting on the increase, Glanbia Ireland Chairman, Henry Corbally, said: “While the short-term outlook remains positive, we note that the current high prices are leading to higher production in key regions and may affect demand when fully passed through the supply chain.