Glanbia Ireland announces 2017 grain pricing
Ireland’s largest buyer and user of native Irish grains, Glanbia Ireland, has confirmed a harvest 2017 green grain intake of almost 190,000 tonnes.
Glanbia Ireland Chairman Henry Corbally said that Glanbia fully appreciates the challenging situation facing Irish grain growers given the continued weakness in the world grain market.
“Glanbia is committed to helping our grain growers through this challenging period of over-supply in global grain markets. We have today announced a set of strong grain prices to support our grain growers.”
Harvest prices from Glanbia Ireland for 2017 are set out in table 1.
Henry Corbally added: “Our strategy for a number of years has been to move as much grain as possible out of commodity markets and into premium niche categories. Almost 40% of our total intake now attracts some level of premium or bonus; this is worth around €2m in total to growers compared to the equivalent non-contracted grains. This is a far higher proportion of overall grain contracted than any other buyer in the country.”
“For example, across all contracts, the weighted average price paid for barley to Glanbia Co-op members this harvest is €160 per tonne (including transport).”
Glanbia also offer growers regular opportunities to avoid market volatility by selling forward. Henry Corbally said that, for harvest 2017, 20% of grain was sold forward prior to harvest.
Glanbia has become a very significant purchaser of beans, demonstrating a commitment to sourcing native protein as well as enabling growers to increase their drawdown of the EU protein subsidy and improve their crop rotations.