Glanbia has held its milk price for May supplies, the processor announced on Wednesday. Member milk suppliers will receive 28.9c/l excluding VAT for standard constituents of 3.6% butterfat and 3.3% protein.

This includes a support payment from Glanbia co-op of 0.47c/l excluding VAT.

Glanbia said volumes were up 10% on May 2018 which "will result in Glanbia milk payments worth in excess of €100 million for the month”.

Retrospective top-up payments for milk volumes allocated to Fixed Milk Price Scheme (Phase 13) will go out this month.

Ornua’s purchase price index (PPI) rose by 1.3% in May, to return a farmgate price of 30.5c/l excluding VAT.