Glanbia announces milk price for September supplies
Glanbia has become the first processor to reveal its milk price for September supplies today (Tuesday, October 13), announcing that it has held its base price.
Glanbia will pay its member milk suppliers 31c/L including VAT for September creamery milk supplies at 3.6% butterfat and 3.3% protein.
This is an increase of 0.4c/L on the August milk price, the processor says.
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 and co-op payments will be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Glanbia for September creamery milk, based on delivered constituents, will be 38.15c/L, the company says.
Glanbia Ireland chairman John Murphy said:
Overall dairy consumption and exports have been resilient with prices reasonably steady.
“However, the Covid-19 pandemic continues to impact on global markets and global economies, particularly in the foodservice sector.”
Glanbia Loyalty Scheme
Glanbia Ireland will pay feed bonuses to participants in the Glanbia Milk and Feed Loyalty Scheme (GLS) for dairy feed purchases made up to the end of September.
For the period to the end of September, this will be worth an average of €2,600 to GLS participants who are within the terms of the GLS agreement, the company concludes.