Glanbia Ireland (GI) will pay a base milk price for December of 28.46c/l (excluding VAT) for manufacturing milk at 3.6% fat and 3.3% protein. This is an increase of 1.0c/l from the November base price.
Glanbia will pay its member milk suppliers 29.41c/l (excluding VAT) for December manufacturing milk supplies at 3.6% butterfat and 3.3% protein, which includes a support payment of 1c/l from Glanbia Co-op.
“Global milk supply growth in 2019 was moderate, which has helped market sentiment. However, milk solids have continued to rise at a faster pace than volume growth.
"The global protein market has firmed, while the butterfat market is still seeking equilibrium. The board will continue to monitor developments on a monthly basis,” said Glanbia chair Martin Keane.
“Over the coming weeks, we look forward to meeting with as many of our shareholders and suppliers as possible at nine information meetings being held across our catchment area.”
Seasonality
Glanbia Ireland has announced details of a new early calving bonus and late supply bonus for creamery milk suppliers:
A new early calving bonus (ECB) of 3.79c/l (excluding VAT) will be paid on all milk supplied by creamery milk suppliers in January, while February milk will qualify for an ECB payment of 2.84c/l (excluding VAT).A late supply bonus (LSB) of 1.89c/l (excluding VAT) will be paid on all milk supplied by creamery milk suppliers in December 2020.Both the ECB and the LSB will be adjusted to reflect the constituents of the milk delivered.Subject to an annual review by the board, the ECB and LSB will run for three years (2020, 2021 and 2022). In order to qualify for the ECB and LSB, the quality requirements as set out in the Glanbia Ireland milk purchasing policy must be adhered to.
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Glanbia Ireland (GI) will pay a base milk price for December of 28.46c/l (excluding VAT) for manufacturing milk at 3.6% fat and 3.3% protein. This is an increase of 1.0c/l from the November base price.
Glanbia will pay its member milk suppliers 29.41c/l (excluding VAT) for December manufacturing milk supplies at 3.6% butterfat and 3.3% protein, which includes a support payment of 1c/l from Glanbia Co-op.
“Global milk supply growth in 2019 was moderate, which has helped market sentiment. However, milk solids have continued to rise at a faster pace than volume growth.
"The global protein market has firmed, while the butterfat market is still seeking equilibrium. The board will continue to monitor developments on a monthly basis,” said Glanbia chair Martin Keane.
“Over the coming weeks, we look forward to meeting with as many of our shareholders and suppliers as possible at nine information meetings being held across our catchment area.”
Seasonality
Glanbia Ireland has announced details of a new early calving bonus and late supply bonus for creamery milk suppliers:
A new early calving bonus (ECB) of 3.79c/l (excluding VAT) will be paid on all milk supplied by creamery milk suppliers in January, while February milk will qualify for an ECB payment of 2.84c/l (excluding VAT).A late supply bonus (LSB) of 1.89c/l (excluding VAT) will be paid on all milk supplied by creamery milk suppliers in December 2020.Both the ECB and the LSB will be adjusted to reflect the constituents of the milk delivered.Subject to an annual review by the board, the ECB and LSB will run for three years (2020, 2021 and 2022). In order to qualify for the ECB and LSB, the quality requirements as set out in the Glanbia Ireland milk purchasing policy must be adhered to.
Read more
Co-ops urged to follow Lakeland example by increasing milk price
Mart prices: firm heifer trade in Birr
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