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Monday 25 March 2019

Glanbia offers milk price of 31.5c/L in new Fixed Milk Price Scheme

Photo Mark Stedman/Photocall Ireland
Photo Mark Stedman/Photocall Ireland
FarmIreland Team

FarmIreland Team

Glanbia Ireland (GI) has launched a new two-year Fixed Milk Price Scheme (Phase 13) offering a milk price of 31.5 cent per litre (cpl) (including VAT).

The Scheme will run from February 2019 to January 2021 inclusive.

Milk constituents delivered above or below the standard constituents of 3.6% butterfat and 3.3% protein will be paid for on the basis of a 31.5cpl milk price.

Sean Molloy, Chief Agribusiness Growth Officer with Glanbia Ireland said Glanbia Ireland (GI) has a long track record of providing our milk suppliers with the option of taking a fixed milk price in order to protect their businesses from dairy market volatility.

"We are pleased to be in a position to offer our latest scheme, Phase 13, offering a fixed price of 31.5 cpl over the next two years, particularly in the context of the uncertainty around Brexit."

Last month Dairygold announced details of its new Fixed Milk Price Scheme, which will run over a three-year period from March 1, 2018 to  November 30, 2020.

The scheme provides milk suppliers with a voluntary option to help manage milk price volatility and deliver price certainty on a fixed volume of their milk deliveries.

It also offers a fixed price of 31.25c/L, including VAT, set at reference milk constituents of 3.30pc Protein and 3.60pc Butterfat, including bonuses.

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Under this new scheme a milk supplier delivering the 2017 average Dairygold milk constituents (Fat and Protein) will receive equivalent to an average price of 34.77c/L.

This is Dairygold’s third Fixed Milk Price Scheme and it is voluntary and open to all contracted milk supplying Society Members.

Interested milk suppliers are asked to apply before Friday, February 16, expressing their preference for 5pc or 10pc of their 2017 supply, a fixed volume which will apply for each calendar year to November 2020.

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