December 9, 2023
Business News

Glanbia reveals latest milk prices it will pay to Kilkenny farmers

Local food giant Glanbia has confirmed it will pay its Kilkenny milk suppliers 31.5 cent per litre (cpl) for November.

An additional payment of 0.5 cpl will be made on all November milk supplies to mark the launch of Glanbia Ireland’s Operation Biodiversity initiative, which aims to drive increased planting of native trees and hedgerows in the Irish countryside. This additional payment means the overall payment will rise 0.5cpl for November.

In this month’s milk payment, 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 Co-op will also pay its members a bonus of 0.4 cpl (including VAT) as an additional support payment.

These payments are made on top of the Glanbia Ireland base price for November of 30.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein.

The Glanbia Ireland base price, November Biodiversity payment and Co-op payments will all be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Glanbia for November creamery milk, based on delivered constituents, will be approximately 43 cpl.

Glanbia Ireland Chairman John Murphy said: “Everyone can help make a difference through our Operation Biodiversity initiative. Every single tree or metre of hedgerow planted helps enrich our landscape for generations to come. This month’s Biodiversity payment will be made to all milk suppliers, which we hope will encourage as many as possible to get involved in Operation Biodiversity.”

Commenting on latest milk prices, Mr Murphy added: “In the marketplace, global milk supplies remain solid with a rise expected year-on-year. Tighter restrictions due to global Covid-19 cases continue to impact the foodservice channel, while retail is performing well in the run-up to the festive season. The Brexit EU-UK negotiations are at a critical stage and we will continue to closely monitor over the coming days. A trade deal is really important for the Irish dairy sector.”

PHOTO: Stock image 

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