Glanbia to cut price paid to milk suppliers by three cent per litre

GLANBIA has announced a three cent per litre reduction in the price it will pay suppliers for manufacturing milk in September.

The move has been sharply criticised by the Irish Creamery Milk Suppliers Association which described it as “savage and disproportionate.”

However, the food group insisted it had no option due to the continued volatility on global dairy markets and declining market returns, all compounded by the downturn in the global economy.