Glanbia has become the first processor to set its milk price for November supplies, revealing a biodiversity payment which will be paid this month.
Announcing its price today (Wednesday, December 9), Glanbia will pay its member milk suppliers 31.5c/L including VAT for November creamery milk supplies at 3.6% butterfat and 3.3% protein.
A base price of 30.18c/L including VAT will be paid for last month’s milk, unchanged from the previous month.
In this month’s milk payment, farmer members will also receive a 0.42c/L including VAT payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.
The co-op will also pay its members a bonus of 0.4c/L including VAT as an additional support payment.
The Glanbia Ireland base price, November Biodiversity payment and co-op payments will all be adjusted to reflect the actual constituents of milk delivered by suppliers.
The actual average price paid by Glanbia for November creamery milk, based on delivered constituents, will be approximately 43c/L, the processor says.
Commenting, Glanbia Ireland chairman John Murphy said: “This month’s biodiversity payment will be made to all milk suppliers, which we hope will encourage as many as possible to get involved in Operation Biodiversity.
In the marketplace, global milk supplies remain solid with a rise expected year-on-year. Tighter restrictions due to global Covid-19 cases continue to impact the foodservice channel, while retail is performing well in the run-up to the festive season.
“The Brexit EU-UK negotiations are at a critical stage and we will continue to closely monitor over the coming days. A trade deal is really important for the Irish dairy sector,” Murphy concluded.