Glanbia is to pay 30cpl for May milk supplies
Glanbia will pay its member milk suppliers 30 cent per litre (cpl), including VAT, for May manufacturing milk supplies at 3.6 per cent butterfat and 3.3 per cent protein.
Glanbia Ireland (GI) will maintain its base milk price for May at 29cpl, including VAT, for manufacturing milk at 3.6 per cent fat and 3.3 per cent protein.
In addition, Glanbia Co-op will make a support payment to members of 1cpl, including VAT, for May manufacturing milk at 3.6 per cent fat and 3.3 per cent protein.
The Glanbia Ireland base price and the co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers, according to the co-op
"There has been a welcome recovery in dairy market sentiment, driven mainly by adverse weather impacts on EU and US milk supply. The board will continue to monitor developments on a monthly basis," said Martin Keane, Glanbia chairman.