Glanbia and Lakeland Dairies hold milk price for December
Glanbia Ireland and Lakeland Dairies have both announced that they are holding their milk price for December milk.
Glanbia Ireland announced today that it would hold its December milk price at 35c/L, while Lakeland Dairies has held its price for December milk at 36.5c/L including VAT.
The Lakeland price includes a 1c/L butter bonus, the same as the November milk price.
Glanbia Ireland will pay its milk suppliers 35c/L including VAT for December manufacturing milk supplies at 3.6pc butterfat and 3.3pc protein. This price is unchanged from the November price. Glanbia Ireland has also announced that it will pay its milk suppliers a 1.1c/L bonus on all milk supplied in July to December of 2017.
However, Glanbia Ireland Chairman Henry Corbally warned that current market returns are considerably lower than the Glanbia milk price, therefore price adjustments would seem inevitable over the coming months.
IFA National Dairy Chairman Tom Phelan said the decisions by the Glanbia Board to hold the December milk price and to top up second half supplies by 1.1c/L were correctly made.
Mr Phelan said today’s decisions mean Glanbia has now paid 1c/L on first half, and 1.1c/L for second half supplies, which, he said, will help ensure Glanbia farmers will not be at a disadvantage relative to the average milk price paid by co-ops from July to December.
He said now that both Carbery (West Cork Co-ops) and Glanbia had made the move to top up 2017 milk payments, other co-ops need to look very closely to their own situation to ensure their suppliers are not left behind.
“Over the coming weeks, suppliers to Glanbia and no doubt to many other co-ops will be invited to attend information meetings all around the country. I urge co-ops to focus those meetings less on talking down milk prices, and more on outlining how they will work with and support farmers through downturns,” Tom Phelan concluded.
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