Glanbia has announced that it will increase its milk price for November supplies, following a meeting of the board earlier today, Thursday, December 12.
The processor revealed that it will pay its member milk suppliers 30c/L including VAT for November manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland will pay a base milk price for November of 29c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
A spokesperson for the processor added that the board of Glanbia Co-op has decided to continue to make a support payment to co-op members of 1c/L including VAT for November milk supplies.
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:
The global dairy markets are largely in balance. Dairy proteins have improved on the global market, cheese remains firm, while butter markets remain fragile.
“The board will continue to monitor developments on a monthly basis.”
Meanwhile, earlier today Lakeland Dairies revealed that it has held its November price from October.
In the Republic of Ireland, the cooperative will pay a base price of 30.31c/L including VAT and lactose bonus, plus the usual out-of-season payment for qualifying milk.
This is the same price as what was paid by Lakeland last month for October supplies.
In Northern Ireland, a base price of 24.5p/L will be paid for October supplies, plus the usual out-of-season payment of 3p/L.