Glanbia has announced its price for April milk supplies, following on from a reduced price last month, becoming the second co-op to do so.
Glanbia will pay its member milk suppliers 30.5c/L including VAT for April manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for April of 30c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
The board of Glanbia Co-op has decided to make a support payment to members of 0.5c/L including VAT for April milk supplies.
“Glanbia Ireland has maintained its base price of 30c/L to reflect current market returns. While milk supply growth in key regions is lower than previous years, demand is sluggish in some markets due to trade wars and other issues,” said chairman Martin Keane.
Last month
On April 12, the processor revealed a reduced offering for its member suppliers.
Glanbia paid its member milk suppliers 30.5c/L including VAT for March manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland paid a base milk price for March of 30c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
The interim market payment of 1c/L, that was paid by Glanbia Ireland on January and February milk supplies, was not paid for March. The board of Glanbia Co-op decided to make a support payment to members of 0.5c/L including VAT.
At the time, Keane said: “Glanbia Ireland has maintained its base price of 30c/L to reflect current market returns.
While global milk supply growth is lower than previous years and oil prices have increased, market demand in some regions is being adversely affected by challenges that include lower economic growth, Brexit and trade wars.
Also last month, Glanbia plc revealed a revenue growth of 8.4% for the first three months of the year.
Revenue in that period was also up 16.2% compared to the same three months of 2018.