December 1, 2021
Business News

Cats get the cream: Glanbia pay Kilkenny farmers more for milk than any other county

Local diary giant Glanbia paid Kilkenny farmers more money for their milk than any other county in Ireland, the company confirmed.

Accroding to a new report, Glanbia Ireland paid a total of €192 million for milk to the 875 farm families across the county.

Farmers in neighbouring Tipperary received €131 million for their milk in 2020. Farmers in Waterford were paid €161 million.

Glanbia confirmed the company’s overall revenue for 2020 was €1.9 billion, down 2.9%, of which a 2.1% drop was caused by volume decline, with the balance due to modest price deflation over the period.

The company reported after tax profits of €61 million.

The milk price paid by Glanbia for 2021 was an average of 35 cent per litre, inclusive of VAT.

Glanbia Ireland CEO Jim Bergin said: “Covid-19 significantly added to our operational challenges in 2020 but the speed at which the management team acted and adapted to safeguard the health and wellbeing of all was exemplary.

“Keeping milk on the shelves throughout the past year has been exceptionally challenging and tremendous credit goes to everyone who played their part.

“Milk volumes in 2020 increased by 4.9% on a like-for-like basis and the Group paid over €1.083 billion to milk suppliers, an increase of 3.8% on 2019.

“This represents a significant source of income for farm families, for our rural and regional economies and highlights the impact of dairy farming on villages and towns throughout rural Ireland where our suppliers live, work and spend their farm income,” Mr Bergin added.

 

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