2020 Trading Bonus information now available online
The Glanbia Co-op Trading Bonus Scheme is a progressive scheme that encourages, recognises and rewards active Members of the Co-op for trading with the business they majority own, Glanbia Ireland.
For the 2020 Trading Bonus 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 2020 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.
For Glanbia Ireland grain growers, a Trading Bonus of up to €10 per tonne (plus VAT***) on grain supplied is available for 2020. The rate of Trading Bonus will vary depending on the level of “qualifying grain inputs” purchased. Qualifying grain inputs are seed grain, fertilisers, ag-chemicals, crop packaging and other seeds
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 2020 Feed Trading Bonus will be €10 per tonne on Beef, Dairy and Sheep feed products. Qualifying Co-op Members that buy pig feed or Straights from Glanbia Ireland will receive a feed bonus of €3 per tonne.
Purchases made through Purchasing Groups are paid at 50% for 2020.
How to access your Trading Bonus Scheme information online
Glanbia Co-op members can now log into their Glanbia Connect account and view their 2020 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 2020 Trading Bonus Scheme payment.
2020 Trading Bonus Scheme
All Members of Glanbia Co-op that trade with Glanbia Ireland are eligible for the 2020 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, ≥8.0 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. 0.4 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.
2019 Trading Bonus Scheme – Historical View
To view you 2019 Trading Bonus Scheme figures use the dropdown menu to toggle to the 2019 summary page.
Any shareholder with queries on the Trading Bonus should contact the Glanbia Co-op Shares Office on 058 44444. 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 on 9 July 2020