Kilkenny farmers to beef up income from Glanbia’s €4.7m milk bonus
Glanbia Co-operative Society has confirmed a total of €4.7 million will be paid to Kilkenny members this month as part of its 2020 Trading Bonus Scheme.
The Milk Supplier Trading Bonus payment will be made to qualifying members along with their January milk payment. In a statement, the company said the payment is based on 2020 milk supply volumes.
Glanbia Co-Op recently confirmed the continuation of the share of GI Profit distribution for 2021l. It said members will also have an opportunity to participate in a 2021 Trading Bonus scheme.
This includes a payment based on the level of trade for milk and grain suppliers, as well as beef, sheep and pig farmer qualifying for a feed bonus on tonnes purchased.
Glanbia Co-operative Society chair John Murphy said: “The 2021 Trading Bonus Scheme is a continuation of the very successful Trading Bonus Scheme operated since 2018.
“The combination of the monthly ‘Share of GI Profit’ payment and the 2021 Trading Bonus Scheme is an equitable and transparent means of returning the Co-op’s share of GI profit to our active farmer Members.
“Profit made from the milk processing business is returned to those whose milk generated it, while the Trading Bonus rewards our Members for trading with the business that they majority own, Glanbia Ireland,” Mr Murphy added.