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18 Aug 2022

Glanbia announce milk price for November 2021

Kilkenny Kilkenny Kilkenny

Glanbia will pay its Member milk suppliers 39.0 cent per litre (cpl) (including VAT) for  November  creamery  milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) will pay a base milk price for November of 38.58 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1.4 cpl (including VAT) from the October base price.

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 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 November creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 42.39 cpl.

 

Seasonality payments

Seasonality payments will be included in next month’s milk price payments, with an unconditional Late Supply Bonus (LSB) of 2 cpl (including VAT) paid on all milk supplied during December. The Late Supply Bonus was previously confined to creamery milk suppliers, however, it will now apply to all milk supplied including all volumes supplied by our liquid and Autumn Calving Scheme suppliers which are not already subject to premium payments.

 

Glanbia Ireland Chairman John Murphy said: “Global milk supply has fallen, with rising input costs and wider inflationary pressures having a strong impact. The market is continuing to benefit from customers moving to secure product in the face of supply chain challenges and weaker global milk production. The returns for dairy product categories have continued to firm. The Board will continue to monitor developments on a monthly basis.”

 

Glanbia Co-op Special General Meeting (SGM)

Regarding the Glanbia Co-op SGM taking place at 2pm, this Friday, 17 December, John Murphy said a high number of eligible shareholders had registered to vote in the online meeting. He highlighted that there was technical support available on www.glanbiaconnect.com or through the dedicated IT support number 056 7796099 from tomorrow, Wednesday, 15 December.

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