Glanbia has increased its January milk price
Glanbia has announced that it will pay its member milk suppliers 35.42cpl (including VAT) for January creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for January of 31 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1cpl from the December price.
Farmer members will also receive a 0.42cpl (including VAT) payment from Glanbia Co-op on all milk supplied this month as their Share of GI Profit. This new payment, which will be adjusted to reflect the constituents of milk supplied, will be paid on all milk supplied by co-op members in 2020.
Glanbia Co-op members will also have the opportunity to participate in the 2020 Trading Bonus Scheme which rewards Glanbia Co-op members for trading with the business that they majority own, Glanbia Ireland.
An Early Calving Bonus (ECB) of 4cpl (including VAT) will be paid to creamery suppliers for January milk. An Early Calving Bonus of 3cpl (including VAT) will be paid to creamery milk suppliers for all February milk. The ECB replaces the previous Seasonality Scheme.
The Glanbia Ireland base price, Glanbia Co-op Share of GI Profit payment and Early Calving Bonus will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Glanbia Ireland liquid milk suppliers who deliver high quality milk year round receive a bonus of 7.4 cpl (including VAT) on their contracted liquid milk volumes for the six months from October to March. Participants in the Autumn Calving Scheme (ACS) will be paid 8.5cpl (including VAT) on their contracted November to February volumes.
Liquid Milk contract holders and Autumn Calving Scheme participants are not eligible for the Early Calving Bonus.
Meanwhile, Glanbia Co-operative Society has confirmed that a total of €10.8m will be paid to milk supplier members of the co-op this month as part of its 2019 Trading Bonus Scheme.
The Milk Supplier Trading Bonus payment will be made to qualifying members with their January milk payment and is based on 2019 milk supply volumes.