2019 Trading Bonus information now available on Connect
The Milk Supplier Trading Bonus is worth up to €3,953 including VAT to a 500,000 litre supplier spending over 7 cent per litre (cpl) with Glanbia Ireland this year.
The Glanbia Co-op 2018 Trading Bonus Scheme was very well received by Co-op Members. A total of €14.1 million was paid out to 5,900 Members through the 2018 Bonus. Two-thirds of Trading Bonus recipients qualified for the top rate bonus payment of 0.75cpl on their 2018 milk supply, which rewarded them for spending over 7cpl with Glanbia Ireland last year.
For the 2019 scheme, at the end of the year the total spend will be divided by the total litres of milk or tonnes of grain delivered to generate a cent per litre and a euro per tonne input spend. All 2019 purchases made from Glanbia Ireland – feed, fertiliser, veterinary medicines, dairy hygiene products, farm hardware etc – are included in the calculation.
The total bonus payable is then calculated by using the applicable cpl bonus for each litre of milk supplied to Glanbia Ireland.
Under the 2019 Trading Bonus scheme, milk supplier Members of Glanbia Co-op will not qualify for a separate Feed Trading Bonus payment. This is a change from the 2018 scheme. However, feed purchases will continue to be included in the calculation of the Milk Trading Bonus.
Livestock farmer customers of Glanbia Ireland that are Co-op Members but not milk suppliers to Glanbia will also qualify for a Feed Bonus on their tonnes purchased this year. The 2019 Feed Trading Bonus will be €10 per tonne on Beef, Dairy and Sheep feed products. A feed bonus of €3 per tonne on pig feed or straights will also be available for qualifying Co-op members.
For Glanbia Ireland grain growers, a Trading Bonus is available of up to €10 per tonne plus VAT on grain supplied.
Glanbia Co-op members can now log into their Glanbia Connect account and view their 2019 Trading Bonus status. Shareholders are encouraged to log into the system to check that all of their eligible accounts are linked to their shareholding in order to qualify for the 2019 Trading Bonus Scheme.
2019 Trading Bonus Scheme
All Members of Glanbia Co-op that trade with Glanbia Ireland are eligible for the 2019 Trading Bonus Scheme.
- Shareholders should firstly log into the secure “My Account” section on www.glanbiaconnect.com
- Trading Bonus information can then be located by selecting “Glanbia Co-op Bonuses” from the dropdown menu in “My Dashboard”
- The Trading Bonus landing page will display the Bonuses that the shareholder is eligible for eg Milk Supplier Trading Bonus, Beef Feed Trading Bonus etc.
- The Milk Supplier Trading Bonus page will show the Co-op member a list of the milk and trading accounts that are linked to their folio.
- Milk Supply volume and Qualifying Purchases up to the last Accounting Period will be displayed.
- Similarly, the Grain Supplier Trading Bonus page will show the Co-op member a list of their linked grain and trading accounts.
- The system will calculate a year-to-date “Level of Trade” for example, 7 cent per litre.
- An “Estimated Current Rate (cpl)” will also be displayed. This is an indicative Trading Bonus rate based on the shareholder’s current level of trade e.g. 0.75 cpl.
- This figure is subject to change, depending on milk supply and input purchases between now and year end.
- Please note that Trading Bonus information will not be presented online for complex Qualifying Entities with multiple unrelated shareholders.
- These shareholders should contact the Co-op Shares Office if they require an update on their Trading Bonus status.
2018 Trading Bonus Scheme – Historical View
To view your 2018 Trading Bonus Scheme figures use the dropdown menu to toggle to the 2018 summary page.
Any shareholder with queries on the Trading Bonus should contact the Glanbia Co-op Shares Office on 058-22241. If the query relates to a farmer’s trading or milk accounts, they should contact their local Glanbia Ireland representative or the Customer Service Centre (CSC) on 1890 321 321.
First Published 28 May 2019