Glanbia Ireland will pay its milk suppliers 35 cent per litre (cpl) including VAT for January manufacturing milk supplies at 3.6% butterfat and 3.3% protein. This price is unchanged from the December price.
Glanbia Ireland Chairman Henry Corbally said that while there ha bbeen some welcome improvements in market sentiment in recent weeks, current market returns continued to significantly lag the farm gate milk price.
Glanbia Co-op Trading Bonus
Mr Corbally reminded milk suppliers of the 2018 Trading Bonus Scheme recently announced by Glanbia Co-op. The Scheme will reward farmer members of the Co-op for purchases made from the business that they own, Glanbia Ireland.
For milk supplier members of Glanbia Co-op, the new 2018 Trading Bonus is potentially worth up to 0.75 cent per litre (cpl) on all milk delivered in 2018. As shown in Table 1, the Milk Supplier Trading Bonus is worth up to €3,750 to a 500,000 litre supplier spending over 7 cpl with Glanbia Ireland this year.
All 2018 purchases made from Glanbia Ireland – feed, fertilizer, veterinary medicines, dairy hygiene products and farm hardware etc – are included in the calculation. At the end of 2018, the total spend will be divided by the total litres of milk delivered to generate a cent per litre input spend.