Glanbia to pay Waterford farmers 31c per litre of milk for December
Waterford-based co-op Glanbia will pay local farmers 31 cent per litre for milk supplies in December.
Glanbia Ireland (GI) confirmed it will pay members a base milk price for December of 30 cents per litre including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. This is an increase of 1c from the November base price.
The Board of Glanbia Co-op said it decided to continue to make a support payment to members of 1cpl including VAT for December milk supplies.
The GI base price and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Glanbia Chairman Martin Keane said: “Global milk supply growth in 2019 was moderate, which has helped market sentiment. However, milk solids have continued to rise at a faster pace than volume growth.
“The global protein market has firmed, while the butterfat market is still seeking equilibrium. The Board will continue to monitor developments on a monthly basis.
“Over the coming weeks we look forward to meeting with as many of our shareholders and suppliers as possible at nine information meetings being held across our catchment area.”