Glanbia reveals latest milk prices it will pay Kilkenny farmers
Glanbia will pay its Kilkenny milk suppliers 30.60 centre per litre (cpl) for August.
The diary giant confirmed it will pay local farmers 30.60, including VAT, for August creamery milk supplies at 3.6% butterfat and 3.3% protein. This is a 0.5 cpl increase from the July milk 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 the Share of GI Profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Glanbia for August creamery milk, based on delivered constituents, will be 35.2 cpl.
Glanbia Chairman Martin Keane said: “Dairy product prices across the EU have been reasonably stable in recent weeks despite an overall weaker macroeconomic outlook. We will continue to closely monitor the various factors influencing the dairy market including the ongoing challenges from Covid-19, global milk supply growth, exchange rate movements and Brexit developments.”