Lakeland Dairies has adjusted the milk price it pays on existing fixed milk contracts with farmer suppliers.
This is to help alleviate the prolonged on-farm cost squeeze for farmers engaged in these contracts, as severe inflationary pressures on feed and fertiliser continue to bite.
In the Republic of Ireland, all fixed milk volumes will receive an 8 c/litre supplementary payment from April 2022 - December 2022 inclusive.
In Northern Ireland the corresponding payment will be 7 p/litre on all milk in fixed price schemes for the same months.
Lakeland Dairies said the supplementary initiative is underpinned by market support from its customers and is intended to assist in currently unprecedented market conditions.