Glanbia put hold on milk prices

THE board of Glanbia plc yesterday decided to hold milk prices at current levels until the end of March. This decision was reached notwithstanding the downturn in market returns and significant increases in energy and other costs.

Glanbia chairman Michael Walsh said last night: “Due to our high volumes of winter milk, the cost of maintaining price at this time of year is disproportionate to Glanbia. Therefore, in making this decision the board is demonstrating a very real commitment to milk suppliers. Also, in line with our promise made last year, suppliers will next month receive a 0.5 cpg top up for all milk supplied in 2005.”