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Glanbia milk suppliers will receive a base price of 30.28c/l (excluding VAT) for May manufacturing milk supplies.
Glanbia Ingredients Ireland (GII) has increased its base price for May by 1c/l on last month's price for manufacturing milk at 3.6% fat and 3.3% protein.
Glanbia Chairman Henry Corbally said that the increase reflected the improved returns from some products, particularly butter.
However, he cautioned that the supply:demand balance was uneven across the product portfolio.
As always, market returns and milk price will be reviewed by the board on a monthly basis.
Lakeland
Lakeland Dairies has also announced its May milk price today. The co-op will pay its suppliers 30.67c/l (excluding VAT) for May supplies.
This is a 1c/l increase on the April milk price.
West Cork
The Carbery group of co-ops in west Cork have also increased its milk price by 1c/l. The four co-ops which form Carbery, Bandon, Barryroe, Drinagh and Lisavaird, will meet in the coming days to set their own prices.
It is up to each respective board whether or not it will pass on the 1c/l increase from Carbery.
PPI rise
Meanwhile, Glanbia's milk price increase comes after the latest Ornua Purchase Price Index (PPI) rose by 1.8% in May, resuming the growth trend stalled since the start of this year.
The PPI value now stands at 106.8, a level not seen since the autumn of 2014. This means the commodities exported by Ornua are returning a farmgate milk price of 30.3c/l (excluding VAT).
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