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Wednesday 19 September 2018

Glanbia announces April milk price

Glanbia has invested heavily in new processing facilities in recent years. Photo: Finbarr O'Rourke
Glanbia has invested heavily in new processing facilities in recent years. Photo: Finbarr O'Rourke
Ciaran Moran

Ciaran Moran

Glanbia will pay its Member milk suppliers 31 cent per litre (cpl) including VAT for April manufacturing milk supplies at 3.6pc butterfat and 3.3pc protein.

Based on current market returns, Glanbia Ireland (GI) will pay a base milk price for April of 29 cpl including VAT, for manufacturing milk at 3.6pc fat and 3.3pc protein.

In addition, Glanbia Co-op will make a support payment to Members of 2 cpl including VAT, for April manufacturing milk at 3.6pc fat and 3.3pc protein.

The Glanbia Ireland base price and the Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Yesterday, Lakeland Dairies announced that it has maintained its base price for April milk and will also provide a further payment to support milk producers following from the recent bad weather and fodder crisis.

Lakeland has held the base milk price at 31.78c/L including VAT plus 1.5c/L support for all April milk supplies. This equates to 33.28c/L including VAT.

It said that global market conditions remain challenging and while there has been some improvement in skim markets, this is from a record low base and butter returns are carrying milk prices.

It comes after Ornua announced that its Purchase Price Index for April is 100.4 (29.6c/L, VAT inclusive, based on Ornua’s product purchase mix and assumed costs of 6.5c/L).

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The April 2018 Index is unchanged from March, with higher butter and SMP returns in the month, offset by lower cheddar returns, it said.

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