May 21, 2024
Business News

Glanbia reveals latest milk prices it will pay Kilkenny farmers

Glanbia has confirmed it will pay its Kilkenny milk suppliers 37.6 cent per litre (cpl) for October.

Glanbia Ireland (GI) will pay a base milk price for October of 37.18 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 September 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 October creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 40.88 cpl.

Glanbia Ireland Chairman John Murphy said: “Dairy markets have strengthened further, driven by weaker global milk supply and buyers moving to secure product in the face of supply chain challenges. There is particularly strong demand for cheese, butter and skimmed milk powder. This comes against a backdrop of wider inflationary pressures. The Board will continue to monitor developments.”

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