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26 May 2022

Glanbia pays 45.08 cpl for February milk

Kilkenny Kilkenny Kilkenny

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Glanbia’s milk price for Member suppliers has increased to 45.08 cpl (including VAT) for February 2022 creamery milk supplies at 3.6% butterfat and 3.3% protein.

 

The overall Glanbia price of 45.08 cpl for Member milk suppliers, includes;

  • A base milk price for February of 41.58 cpl (including VAT). This is an increase of 1.5 cpl from the January base price of 40.08 cpl (including VAT);
  • An unconditional Seasonality Bonus of 3 cpl (including VAT) paid on qualifying milk volumes supplied in February;
  •  A Sustainability Action Payment of 0.5 cpl (including VAT) being paid monthly on all milk supplied in 2022 to recognise specific sustainability actions undertaken on farm.

The base price, Seasonality Bonus and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The Glanbia milk price for February creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 49.0 cpl.

The 3 cpl Seasonality Bonus is paid on all milk supplied in February, including non-contracted volumes from Liquid and Autumn Calving Scheme suppliers.

Glanbia Ireland Chairman John Murphy said: “Dairy market prices are currently at historic highs and demand is strong due to curtailed milk supply globally. With unprecedented inflation and global supply chain challenges, our commercial, logistics and agri teams are all working closely with our suppliers and our customers in this dynamic situation. The Board notes the emerging concerns at European level regarding food security and will continue to closely monitor developments.”

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