Glanbia to pay 29 cpl for October milk

Glanbia will pay its Member milk suppliers 29 cent per litre (cpl) including VAT for October manufacturing milk supplies at 3.6% butterfat and 3.3% protein. 

Glanbia Ireland (GI) will pay a base milk price for October of 28 cpl including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. This is unchanged from the September base price.

The Board of Glanbia Co-op has decided to continue to make a support payment to Members of 1.0 cpl including VAT for October milk supplies. 

The Glanbia Ireland 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: “There has been a welcome improvement in the price of dairy proteins on global markets, while cheese is stable and the European butter market remains fragile. Overall markets have reacted to seasonal demand and the moderate rate of global milk supply growth in the year to date. The Board will continue to monitor developments on a monthly basis.”