Glanbia Ireland has become the latest processor to reveal its milk price for June supplies – deciding to hold its current price.
Glanbia will pay its member milk suppliers 35.6c/L including VAT for June creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for June of 35.18c/L including VAT for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from the May base price, the processor notes.
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 Glanbia Ireland 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 June creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 38.83c/L.
Commenting, Glanbia Ireland chairman John Murphy said:
“The returns for most dairy product categories are generally stable at present, although increased global milk supply from key regions in recent months and the variable pace of food service re-opening are notable developments.
“The board will continue to monitor developments on a monthly basis,” the chairman concluded.
Glanbia becomes the second processor to reveal its June milk price; on Friday (July 9) Lakeland Dairies became the first processor, stating:
“The Board of Lakeland Dairies has held the co-operative’s milk price for June.
“In the Republic of Ireland, Lakeland Dairies has held its base milk price for June at 36c/L, including VAT, for milk at 3.6% fat and 3.3% protein.
“In Northern Ireland, Lakeland Dairies has held its milk price for June at 29.2p/L.”