Glanbia has announced that, for November, it will pay its member milk suppliers 39c/L, including VAT, at 3.6% butterfat and 3.3% protein.
This is up from 37.6c/L, including VAT, for October supplies.
Glanbia Ireland (GI) will pay a base milk price of 38.58c/L, including VAT, at 3.6% fat and 3.3% protein, which is an increase of 1.4c/L (including VAT), on the October base price.
Farmer members will also receive a 0.42 cpl, including VAT, payment from Glanbia Co-op on all milk supplied this month as their ‘share of GI profit’.
The GI base price and co-op ‘share of GI profit’ payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The Glanbia milk price for November creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 42.39c/L.
Seasonality payments
Seasonality payments will be included in next month’s milk price payments, with an unconditional late supply bonus (LSB) of 2c/L (including VAT) paid on all milk supplied during December.
The LSB was previously confined to creamery milk suppliers; however, it will now apply to all milk supplied including all volumes supplied by Glanbia’s liquid and autumn calving scheme suppliers, which are not already subject to premium payments.
Commenting, GI chairman John Murphy said:
“Global milk supply has fallen, with rising input costs and wider inflationary pressures having a strong impact. The market is continuing to benefit from customers moving to secure product in the face of supply-chain challenges and weaker global milk production.
“The returns for dairy product categories have continued to firm. The board will continue to monitor developments on a monthly basis.”
Glanbia Co-op special general meeting
Glanbia Co-op’s special general meeting takes place at 2pm, this Friday, December 17 and “a high number of eligible shareholders have registered to vote in the online meeting” according to the GI chair.
Technical support is available here for those who may need it, or through the company’s dedicated IT support number 056 7796099 from tomorrow, Wednesday 15.