‘Scope for all co-ops to improve prices this month and beyond’ – IFA
The move by Glanbia to increase its November milk price was its “first step towards price levels more in line with improved market returns”, according to the Irish Farmers’ Association (IFA).
Commenting on Glanbia’s latest milk price, which increased by 1c/L to a 29c/L base price and 30c/L co-op member price, IFA Dairy Committee chairman Tom Phelan welcomed the increase, adding that other co-ops now must follow suit.
“All co-ops, including Glanbia, must prepare to increase prices further to better reflect actual market returns as we move into 2020.
The November Ornua PPI is 31.9c/L including VAT. EU average dairy market prices would currently return another cent or so above that.
“Clearly, there is scope for all co-ops to continue to improve prices this month – and into 2020,” Phelan concluded.
Glanbia November price
Announcing its milk price yesterday, Thursday, December 12, 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, the representative added.
Other milk processors and co-ops are due to announce their milk prices for last month’s supplies in the coming days.