Glanbia announces milk price for September supplies
Glanbia Ireland has become the latest processor to announce its price for September milk supplies.
Glanbia will pay its member milk suppliers 29c/L including VAT for September manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland will pay a base milk price for September of 28c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. This is unchanged from the August base price.
The Glanbia Ireland base price and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Glanbia chairman Martin Keane said: “Global milk supply growth for 2019 is weaker than forecast, which has improved the market supply-demand balance.
However, trade issues continue to impact on dairy markets, with the proposed US tariffs on Irish butter and cheese of particular concern.
“Greater clarity on Brexit is also important for dairy markets. The board will continue to monitor developments on a monthly basis.”
On Friday, October 11, Lakeland Dairies announced its decision to hold its current price for September.
In the Republic of Ireland, a price of 30.03c/L including VAT has been agreed for milk supplied in September. The price has been held from last month.
In Northern Ireland, a price of 24.50p/L will be paid for September supplies. Again, the price has been held from last month.
Commenting on the price, the co-op said:
The escalation of trade wars as well as the continued uncertainty around Brexit is casting a shadow on the dairy markets.
“Returns for many of the key products have now stabilised after a period of significant price pressure over the summer. Lakeland will continue to monitor the market closely in the coming weeks.”