Glanbia Ireland Gross Milk Returns Summary (GMRS)

The Glanbia Ireland Gross Milk Returns Summary (GMRS) has been developed in response to requests from suppliers. This new document provides a clear and comprehensive summary of the Milk Returns for your Milk Account. The GMRS has been posted and is also available to view or download in the ‘My Document Centre’ on www.glanbiaconnect.com.

The summary shows you the gross payments made to your Milk Account in the 12 milk accounting periods of 2020. It also shows the comparison between your gross milk value and the Glanbia weighted average price for your specific milk supply profile. The benefits are determined by your milk supply constituents and participation in Glanbia schemes.

Glanbia Ireland Chairman, John Murphy, said: “The GMRS shows individual Suppliers the gross payments made to their Milk Account in the 12 milk accounting periods of 2020. It also shows the comparison between their gross milk value and the Glanbia weighted average price for their specific milk supply profile.

“The benefits are determined by each Supplier’s milk supply constituents and participation in Glanbia schemes. The Summary identifies the benefits of our comprehensive milk payments structure. It is important to note that it does not include any dividend payments made by Glanbia Co-op or Glanbia plc to its shareholders which are a further important element of value distribution through the Glanbia model,” he concluded.

The below explanatory guide can be used to help interpret your Guide to the Gross Milk Returns Summary:

Summary CPL in the Period

1. Gross Milk Value in the period in Cents Per Litre (CPL), see breakdown provided.
2. The Monthly Published Price is equal to the Base Manufacturing Price plus Co-Op Share of GI Profit plus Co-Op Support plus any Unconditional Bonuses (e.g. Seasonality, Biodiversity or Weather payments). This monthly published price is used to calculate a weighted average published price for each supplier based on their monthly supply in the period.
3. Difference between your gross milk value and your Glanbia Weighted Average Published Price.

Milk Payment Schemes (Actual Constituents) 

4. Milk volumes & payment under manufacturing price at supplier’s actual milk constituents.
5. Milk volumes & payment under fixed milk price schemes at supplier’s actual milk constituents.
6. Milk volumes & payment under Liquid Contract at supplier’s actual milk constituents, excludes Liquid Premium which is included in ‘Other Value Add Payments section.’
7. Total for Milk Payment Schemes.

Other Value Add Payments not included in Milk Value 

8. Fixed Milk Price Scheme (FMS) settlements in the period (includes Fixed Milk Price Adjustments, FMS 14, 15 & 16 Milk Price Differences, retrospective payments).
9. Payments for the feed element of the Glanbia Loyalty Scheme (GLS).
10. Premium for contracted litres supplied.
11. Premium for contracted litres supplied.
12. Premium for contracted litres supplied.
13. Unconditional seasonality bonus to creamery supplier’s for milk supplied during the months of January, February and December.
14. Payments for Sustainability & Biodiversity.
15. Any other payments not included above (e.g. liquid transition, weather related payments, retrospective payments).
16. Total of Other Value Add Payments section.

Glanbia Co-op 

17. Co-op Share of GI Profi t paid in the period.
18. Co-op Trading Bonus paid in the period.
19. Co-op Support paid in the period.
20. Any other Co-op payments in the period (back bonuses relating to prior years).
21. Total of Glanbia Co-op payments.
22. Your gross milk value from Glanbia Ireland & Glanbia Co-op.

Log in to the ‘My Account’ area of www.glanbiaconnect.com and visit the ‘My Document Centre’ to view or download your Gross Milk Return Summary (GMRS) pack. If you have any queries, please contact your Farm Development Manager.