Glanbia Co-operative Society has today announced a new Trading Bonus Scheme that will reward farmer members of the Co-op for purchases made from the business that they own, Glanbia Ireland.
Glanbia says for milk supplier members of the Co-op, the new 2018 Trading Bonus is potentially worth up to 0.75 cent per litre (cpl) on all milk delivered in 2018 (Table 1).
For grain growers, it says a Trading Bonus of up to €10 per tonne of grain supplied is available for 2018.
Beef, sheep and pig farmer customers of Glanbia Ireland that are Co-op members will also qualify for a Feed Bonus on their tonnes purchased this year., it says.
The 2018 Feed Trading Bonus will be €10 per tonne on Beef and Sheep Feed products purchased from Glanbia Ireland, with €5 per tonne available to Co-op Members on purchases of pig feed and Straights.
As shown in Table 1, the Milk Supplier Trading Bonus is worth up to €3,750 to a 500,000 litre supplier spending over 7cpl with Glanbia Ireland this year.
All 2018 purchases made from Glanbia Ireland – feed, fertilizer, veterinary medicines, dairy hygiene products and farm hardware etc – are included in the calculation. At the end of 2018, the total spend will be divided by the total litres of milk delivered to generate a cent per litre input spend.
The Trading Bonus Scheme is funded from Glanbia Co-op’s 60pc share of the dividend paid by Glanbia Ireland to its shareholders in January 2018.
Commenting, Henry Corbally, Chairman of Glanbia Co-operative Society said this is a progressive Scheme that will recognise and reward our members’ trade with Glanbia Ireland.
"It is an equitable and transparent means of returning a share of Glanbia Ireland profit to our active farmers. This is the model that our members overwhelmingly endorsed by 93pc at our SGM in Punchestown last May.”