December 4, 2023
Business News

Glanbia reveals latest milk prices it will pay Kilkenny farmers

Local diary giant Glanbia has confirmed it will pay Kilkenny farmers 47.08 cent-per-litre for milk supplied in March.

In a statement, Glanbia said this includes a base milk price for March of 46.58 cpl, including VAT. This is an increase of 5 cpl from the February base price of 41.58 cpl.

The company said a “Sustainability Action Payment” of 0.5 cpl is being paid monthly on all milk supplied in 2022 to recognise specific sustainability actions undertaken on farm. It added the base price and Sustainability Action Payment “will be adjusted to reflect the actual constituents of milk delivered by suppliers”.

The Glanbia milk price for March creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 48.95 cpl (including VAT).

Glanbia Co-op Chairman John Murphy said: “Dairy market prices are now at unprecedented highs, with global milk flows likely to be weaker in the first half of this year. We are in unchartered territory as rising costs and tight supplies of key farm inputs such as feed and fertilizer contribute to the current strength in dairy prices on global markets.”

“However, we note that the current strong inflationary period may impact on consumer demand. The Board will continue to closely monitor developments.”

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