February 29, 2024
Business News

Glanbia reveals latest milk price it will pay to Kilkenny farmers

Kilkenny-based diary giant Glanbia has confirmed it will pay its milk suppliers 36.6 cent per litre (cpl) for September.

Glanbia Ireland (GI) said it will pay a base milk price for September of 36.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1 cpl (including VAT) from the August base price.

Local farmers 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.

Glanbia’s milk price for September creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 39.94 cpl.

Glanbia Ireland Chairman John Murphy said: “Dairy markets have strengthened in recent weeks, mainly due to weaker milk supply from key dairy regions. Higher farm input costs and other factors are curbing milk supply growth. There are significant inflationary pressures at all parts of the supply chain, which we are monitoring closely.”

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *