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Glanbia has announced that it will be holding its milk price and paying members 30.36c/l excluding VAT for November manufacturing milk at 3.6% fat and 3.3% protein. This is inclusive of a 2c/l support payment.
Non-members will be paid 28.46c/l excluding VAT.
There has been a significant reduction in dairy market returns
Although Glanbia has held its milk price for the last five months, Glanbia chair Martin Keane pointed to future uncertainties such as Brexit and the decreasing value in butterfat.
“There has been a significant reduction in dairy market returns, particularly for butterfat, which we must reflect in the base milk price,” he said.
“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.”
He concluded that the board would continue to monitor the situation.
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