Glanbia milk price January 2021
Glanbia will pay its Member milk suppliers 35.1 cent per litre (cpl) (including VAT) for January creamery milk supplies at 3.6% butterfat and 3.3% protein.
The Glanbia Ireland base price for January is unchanged at 30.68 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein.
In addition to the base price, a Seasonality Bonus of 4 cpl (including VAT) will be paid on all quality creamery milk supplied in January.
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 Glanbia Ireland base price, Seasonality Bonus and Co-op “Share of GI Profit” payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The Glanbia milk price for January creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 38.32 cpl.
The Seasonality Bonus is a payment to encourage creamery milk suppliers to flatten the milk supply curve. Liquid Milk contract holders and Autumn Calving Scheme participants receive their specific bonus payments, while the Seasonality Bonus is confined to creamery milk suppliers.
Glanbia Ireland Chairman John Murphy said: “While lockdowns are having a negative impact on foodservice, they are positive for retail demand. Milk supply growth is strong across all the main milk production regions, but rising feed costs may curb supply growth in the EU.”
Glanbia Co-op to pay €4.7m Trading Bonus to Members
Meanwhile, Glanbia Co-operative Society has confirmed that a total of €4.7 million will be paid to milk supplier Members of the Co-op this month as part of its 2020 Trading Bonus Scheme.
The Milk Supplier Trading Bonus payment will be made to qualifying Members with their January milk payment and is based on 2020 milk supply volumes.
Glanbia Co-Op has recently confirmed the continuation of the Share of GI Profit distribution for 2021 and announced that Members will again have an opportunity to participate in a 2021 Trading Bonus scheme.
This includes a payment based on the level of trade for milk and grain suppliers. In addition, beef, sheep and pig farmer customers that are Glanbia Co-op Members can qualify for a Feed Bonus on tonnes purchased.
Commenting, John Murphy, Chairman of Glanbia Co-operative Society, said:
“The 2021 Trading Bonus Scheme is a continuation of the very successful Trading Bonus Scheme operated since 2018. The combination of the monthly “Share of GI Profit” payment and the 2021 Trading Bonus Scheme is an equitable and transparent means of returning the Co-op’s share of GI profit to our active farmer Members. Profit made from the milk processing business is returned to those whose milk generated it, while the Trading Bonus rewards our Members for trading with the business that they majority own, Glanbia Ireland. I would like to thank all Members for their support of the Glanbia Ireland business during 2020.”
First Published on 12 February 2021