Glanbia milk price September 2020
Glanbia will pay its Member milk suppliers 31 cent per litre (cpl) (including VAT) for September creamery milk supplies at 3.6% butterfat and 3.3% protein. This is an increase of 0.4 cpl on the August milk price.
Glanbia Ireland (GI) will pay a base milk price for September of 30.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from last month.
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 0.4cpl (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 September creamery milk, based on delivered constituents, will be 38.15 cpl.
Glanbia Ireland Chairman John Murphy said: “Overall dairy consumption and exports have been resilient with prices reasonably steady. “However, the Covid-19 pandemic continues to impact on global markets and global economies, particularly in the foodservice sector.”
Glanbia Loyalty Scheme
Glanbia Ireland will pay feed bonuses to participants in the Glanbia Milk and Feed Loyalty Scheme (GLS) for dairy feed purchases made up to the end of September.
This five-year Scheme, which commenced on 1 January 2018, pays a Loyalty Bonus of €30 per tonne on all dairy feed purchased by participants.
For the period to the end of September, this will be worth an average of €2,600 to GLS participants who are within the terms of the GLS agreement.
First Published on 13 October 2020