Glanbia reveals milk prices it will pay to Waterford farmers
Local diary and food giant Glanbia has confirmed it will pay Waterford farmers 31 cent per litre (cpl) for September.
Glanbia Ireland (GI) said it will pay a base milk price for September of 30.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from last month.
Farmer members will also receive a 0.42 cpl (including VAT) payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’. The Co-op will also pay its Members a bonus of 0.4 cpl (including VAT) as an additional support payment.
The Glanbia Ireland base price and Co-op payments will be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Glanbia for September creamery milk, based on delivered constituents, will be 38.15 cpl.
Glanbia Ireland Chairman John Murphy said in a statement: “Overall dairy consumption and exports have been resilient with prices reasonably steady.
“However, the Covid-19 pandemic continues to impact on global markets and global economies, particularly in the foodservice sector.”