Glanbia holds October milk price

Glanbia will pay its Member milk suppliers 31 cent per litre (cpl) (including VAT) for October creamery milk supplies at 3.6% butterfat and 3.3% protein. This is unchanged from the September milk price.

Glanbia Ireland (GI) will pay a base milk price for October of 30.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein.

Farmer Members 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 Co-op will also pay its Members a bonus of 0.4 cpl (including VAT) as an additional support payment.

The Glanbia Ireland base price and Co-op payments will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The actual average price paid by Glanbia for October creamery milk, based on delivered constituents, will be approximately 41 cpl.

Glanbia Ireland Chairman John Murphy said: “In the global marketplace, overall prices have remained generally steady. Food service demand in many regions continues to be impacted by Covid-19 restrictions. The impact on dairy markets will continue to be monitored closely over the coming months.”

First Published 10 November 2020