Glanbia has decided to leave its manufacturing price unchanged at 33.11c/l, excluding VAT, at 3.6% fat and 3.3% protein. Glanbia Ireland chair Henry Corbally warned that “higher global milk supply has led to reduced market returns for the basket of dairy products. The board will continue to monitor market developments on a monthly basis”.
Glanbia has decided to leave its manufacturing price unchanged at 33.11c/l, excluding VAT, at 3.6% fat and 3.3% protein.
Glanbia Ireland chair Henry Corbally warned that “higher global milk supply has led to reduced market returns for the basket of dairy products. The board will continue to monitor market developments on a monthly basis”.
Glanbia will hold a series of shareholder and supplier information meetings on market conditions and developments at the company in January.
Lakeland
The board of Lakeland met on Tuesday and decided to hold the milk price from October for November. This is the second month in a row that the co-op has held price.
Lakeland will pay its suppliers in the Republic of Ireland a price of 34.6c/litre, excluding VAT.
The price is unchanged for Lakeland’s Northern Ireland suppliers, which is 30p/l plus a 3p/l winter bonus.
PPI
Ornua’s Purchase Price Index of dairy commodities for November is down more than one point on October’s value.
The index for November is 115, adjusted from 116.4 in October. This, according to Ornua, reflects falling butter returns and lower prices for protein (SMP and whey), partially offset by higher cheddar prices.
The PPI value for November is equivalent to a farmgate price of 33.11c/l excluding VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/l.
This is the first noticeable drop in the index since the milk price recovery started in the summer of 2016.
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