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Glanbia has increased its member milk suppliers’ price for June to 28.6c/l excluding VAT at 3.6% butterfat and 3.3% protein.
This is an increase of 1.5c/l for May supplies, which included a 0.18c/l payment (excluding VAT) to reflect weather-related challenges on farms. Glanbia Ireland (GI) will pay a base price of 28.1c/l excluding VAT.
Farmer members will also receive a 0.4c/l, excluding VAT, payment from Glanbia Co-op on all milk supplied this month as their share of GI profit.
The average price paid by Glanbia for June creamery milk, based on delivered constituents, will be 31.5c/l.
Markets
Glanbia chair Martin Keane said: “Dairy markets have strengthened in recent weeks, helped by the tentative re-opening of some food service outlets and Government interventions. However, given the weak economic data and high rates of coronavirus in many key importing regions, the short- and medium-term market direction remains uncertain.”
Keane said the June milk payment would deliver over €120m to rural communities.
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