Glanbia reveals increased milk price for August

Glanbia has become the latest processor to reveal its milk price for August following a meeting of the board today, Friday, September 11.

The co-op will pay its member milk suppliers 30.6c/L including VAT for August creamery milk supplies at 3.6% butterfat and 3.3% protein.

This is a 0.5c/L increase from the July milk price.

Glanbia Ireland (GI) will pay a base milk price for August of 30.18c/L including VAT for creamery milk at 3.6% fat and 3.3% protein.

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 the share of GI profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Glanbia chairman Martin Keane said:

Dairy product prices across the EU have been reasonably stable in recent weeks despite an overall weaker macroeconomic outlook.

“We will continue to closely monitor the various factors influencing the dairy market including the ongoing challenges from Covid-19, global milk supply growth, exchange rate movements and Brexit developments.”

Lakeland milk price

Earlier today, Lakeland Dairies announced that it has held its August milk price.

In the Republic of Ireland, a base price of 31c/L including VAT will be paid for milk supplied in August.

In Northern Ireland, a base price of 25.25p/L will be paid for August milk. Again, the base price is unchanged.