Glanbia has announced that it will pay its member milk suppliers 30.5 cent per litre including VAT for May manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for May of 30cpl including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. It will also make a support payment of 0.5cpl including VAT for May milk supplies. It is the first of the co-ops to unveil its May milk price.
The Glanbia Ireland and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The actual average price paid by Glanbia for May manufacturing milk based on actual constituents, will be 32.95 cpl (including Co-op support payment).
May milk supplies were 10% ahead of the same period in a challenging 2018. This will result in Glanbia milk payments worth in excess of €100m for the month of May.