The Board of Lakeland Dairies has decided the co-operative’s milk price for February.
In the Republic of Ireland, the co-op increased its milk price by 2.5 cent/litre to pay 43.5 cent/litre inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein.
On average, the Lakeland Dairies pay out in ROI will be over 47.19 cent/litre for February milk.
Meanwhile, in Northern Ireland, Lakeland Dairies has increased its milk price by 2 p/litre to 34.7 p/litre.
On average, the co-op will pay out over 36.75 pence/litre for February milk in Northern Ireland including adjustments for constituents and quality and volume bonuses.
"Dairy markets maintained a positive balance between supply and demand, with a moderation in supplies from other main dairy producing regions," a spokesperson added.
"All dairy markets are good, however, on-farm and factory processing costs have increased significantly.
"Lakeland Dairies will continue to monitor market developments."
