12 June 2018

Glanbia Announces Milk Price for May

News

Glanbia has become the latest processor to announce its milk price for the month of May; the processor held its base price, but reduced its support payment compared to the previous month.

Glanbia will pay its member milk suppliers 30c/L including VAT for May manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

This is a reduction of 1c/L on the April price of 31c/L.

Glanbia Ireland (GI) will maintain its base milk price for May at 29c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.

In addition, Glanbia Co-op will make a support payment to members of 1c/L including VAT for May manufacturing milk at 3.6% fat and 3.3% protein; this is down from 2c/L in the previous month.

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

Martin Keane, Glanbia chairman, said: “There has been a welcome recovery in dairy market sentiment, driven mainly by adverse weather impacts on EU and US milk supply. The board will continue to monitor developments on a monthly basis.”

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