Glanbia reveals price it will pay Waterford dairy farmers for June’s milk
Glanbia has confirmed it will pay its Waterford milk suppliers 30.10 cent per litre for June.
The company confirmed it will pay a base milk price for February of 29.68 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1.48cpl from the May base price.
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 Glanbia Ireland base price and the Share of GI Profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Glanbia for June creamery milk, based on delivered constituents, will be 33.21 cpl.
Glanbia Chairman Martin Keane said: “Dairy markets have strengthened in recent weeks, helped by the tentative re-opening of some food service outlets and Government interventions.
“However, given the weak economic data and high rates of coronavirus in many key importing regions, the short and medium term market direction remains uncertain.
“As the largest milk supply month of the year, our June milk payment will deliver over €120m to rural communities,” Mr Keane concluded.