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Glanbia Ireland has increased its base milk price for August, but an equivalent co-op support payment is coming to an end.
Its manufacturing price at 3.6% fat and 3.3% protein now stands at 30.4c/l excluding VAT, up 1c/l on July's level. However, there will be no 1c/l Glabia Co-op support payment this month.
Glanbia chair Martin Keane said: “The market outlook remains cautious. The level of milk supply from the main exporting regions will be a key factor determining the price outlook over the coming months.”.
On Tuesday, Lakeland Dairies announced it was holding its milk price for August.
The PPI index of dairy commodity prices compiled by Ornua showed a 3.5% increase that month.
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