September 27, 2022
Business News

Glanbia reveals latest milk prices it will pay to Kilkenny farmers

Local diary giant Glanbia has confirmed it will pay its Kilkenny milk suppliers 39 cent per litre for November.

In a statement, Glanbia Ireland (GI) said it will pay a base milk price for November of 38.58 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1.4 cpl (including VAT) from the October base price.

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. The Glanbia milk price for November creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 42.39 cpl.

Glanbia said seasonality payments will be included in next month’s milk price payments, with an unconditional Late Supply Bonus (LSB) of 2 cpl (including VAT) paid on all milk supplied during December. The Late Supply Bonus was previously confined to creamery milk suppliers, but it will now apply to all milk supplied including all volumes supplied by our liquid and Autumn Calving Scheme suppliers which are not already subject to premium payments.

Glanbia Ireland Chairman John Murphy said: “Global milk supply has fallen, with rising inut costs and wider inflationary pressures having a strong impact. The market is continuing to benefit from customers moving to secure product in the face of supply chain challenges and weaker global milk production. The returns for dairy product categories have continued to firm. The Board will continue to monitor developments on a monthly basis.”

 

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