January milk price of 35cpl
Glanbia Ireland has announced its base milk price for January.
Glanbia Ireland will pay its milk suppliers 35 cent per litre (cpl) including VAT for January manufacturing milk supplies at 3.6% butterfat and 3.3% protein. This price is unchanged from the December price.
Glanbia Ireland Chairman Henry Corbally said: “While there have been some welcome improvements in market sentiment in recent weeks, current market returns continue to significantly lag our farm gate milk price. The Board will continue to monitor market developments on a monthly basis”.
Glanbia Co-op Trading Bonus
Henry Corbally reminded milk suppliers of the recently announced 2018 Trading Bonus Scheme available from Glanbia Co-op. The Scheme will reward farmer members of the Co-op for purchases made from the business that they own, Glanbia Ireland.
For milk supplier members of Glanbia Co-op, the new 2018 Trading Bonus is potentially worth up to 0.75 cent per litre (cpl) on all milk delivered in 2018. As shown in Table 1, the Milk Supplier Trading Bonus is worth up to €3,750 to a 500,000 litre supplier spending over 7 cpl with Glanbia Ireland this year.
All 2018 purchases made from Glanbia Ireland – feed, fertilizer, veterinary medicines, dairy hygiene products and farm hardware etc – are included in the calculation. At the end of 2018, the total spend will be divided by the total litres of milk delivered to generate a cent per litre input spend.
Table 1: Glanbia Co-op 2018 Trading Bonus for Glanbia Ireland milk suppliers
|Purchases from Glanbia Ireland (cpl)||Trading Bonus (cpl)||Trading Bonus (€) for 500,000 litre supplier|
|1 - 3||0.10||€500|
|3 - 5||0.25||€1,250|
|5 - 7||0.50||€2,500|
The Trading Bonus Scheme is funded from Glanbia Co-op’s 60% share of the dividend paid by Glanbia Ireland to its shareholders in January 2018.
Henry Corbally thanked the large number of farmers that attended the recent series of Glanbia information meetings. “We had excellent engagement with our members and suppliers at nine venues. A range of issues were debated and discussed in an open and constructive manner - this is hugely beneficial for our organization. I would like to thank all farmers that attended.”
First Published 8 February 2018