Milk prices increase over fears volumes will decline

Glanbia has added 1.5c to the base price for February. With the seasonality bonus falling 1c

Amid the disruption on world markets, Irish dairy farmers are hopeful that a good grass growing season will help keep costs lower here than competing regions.

Predictions that dairy export volumes will decline globally all through 2022, and maybe all through 2023, are reflected in continuing milk price rises for Irish farmers.

Lakeland Dairies kicked off the February milk price announcements with a 2.5 cent/litre increase. Farmers will get 43.5 cent/litre inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein. That leaves the average price paid at over 47.19c.