Glanbia reveals latest milk price it will pay Kilkenny farmers
Locally-based agrifood giant Glanbia has confirmed it will pay Kilkenny milk suppliers 35.6 cent per litre (cpl) for may.
Glanbia Ireland said it will pay a base milk price for February of 35.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1cpl from the April base price.
Farmer members will also receive a 0.42 cpl (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 May creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 38.73 cpl.
Glanbia Ireland Chairman John Murphy said: “Dairy markets are in reasonable balance at present, despite the variable nature of the recovery in demand from the food service sector.
“The Board will continue to monitor developments on a monthly basis,” Mr Murphy added.