Glanbia follows Lakeland Dairies with milk price rise
Glanbia has announced that it will increase its base milk price to farmers for June manufacturing milk.
It said today that it will pay its milk suppliers 33c/L including VAT for June manufacturing milk supplies. That's an increase of 1c/L to 33c/L including VAT for manufacturing milk at 3.6pc butterfat and 3.3pc protein.
It comes after Lakeland Dairies became the first processor to announce its milk price for June supplies increasing its price by 1c/L to 33c/L including VAT.
Glanbia Chairman Henry Corbally said: “the market for butterfat in particular has been positive, helped by reduced milk supply from Europe’s largest producers, France and Germany, while in contrast, powder markets are more challenging. The Board will continue to monitor market developments on a monthly basis.”
The Glanbia chairman confirmed that Fixed Milk Price Scheme (Phase 10), which will pay a fixed price of 32c/L for the full year of 2018, was over-subscribed when applications closed on Friday, July 7. Allocation volumes will be communicated to suppliers in the coming weeks.