After a cut last month, Glanbia has held its milk price for April.
Glanbia members are being paid 22.75c/l excluding VAT for April, while non-members are being paid 20.9c/l excluding VAT.
The prices are for manufacturing milk at 3.6% fat and 3.3% protein.
Henry Corbally, Glanbia chair, said that in making this decision on April price, the board and management of Glanbia was acutely conscious of the challenging weather faced by suppliers, which led to lower than expected milk supply and constituents.
“Glanbia appreciates the income challenge and is doing all it can to support our farmer suppliers, through both GII and the society. We continue to consider other mechanisms to add to our range of industry-leading volatility tools, such as fixed milk price schemes and MilkFlex”.
Corbally confirmed that Glanbia Co-operative Society will pay a special dividend worth a total of €10.1m to all society shareholders next week. For the average milk supplier shareholder to Glanbia, the special dividend of 25c/share will be worth over €1,000.
This is in addition to the ordinary dividend of 10c/share that will be proposed at the society’s AGM today (Thursday 5 May).
The golden milk pot – counting the cost of the Irish co-op structure