Glanbia will pay its milk suppliers 32 cent per litre (cpl) including VAT for November manufacturing milk supplies at 3.6% butterfat and 3.3% protein. This is unchanged from the October price.
Glanbia Ireland (GI) has reduced its base milk price for November to 30 cpl including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. In addition, Glanbia Co-op will make a support payment to Members of 2 cpl including VAT.
The Glanbia Ireland base price and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Glanbia Chairman Martin Keane said: “As highlighted in recent months, there has been a significant reduction in dairy market returns, particularly for butterfat, which we must reflect in the base milk price. Brexit developments and international trade uncertainty, offset to some extent by reduced intervention stocks and potentially lower milk volumes from key EU regions, are among the factors that will influence dairy markets in the coming months. The Board will continue to monitor developments on a monthly basis”.