22 May 2022

Tipperary's Glanbia members to get 44cpl for January milk

Tipperary's Glanbia members to get 44cpl for January milk

Tipperary's Glanbia members to get 44cpl for January milk

Glanbia’s milk price for member suppliers has increased to 44.58cpl (including VAT) for January 2022 creamery milk supplies at 3.6% butterfat and 3.3% protein.

The overall Glanbia price of 44.58cpl for Member milk suppliers, includes:

- A base milk price for January of 40.08cpl (including VAT). This is an increase of 0.5cpl from the December base price of 39.58cpl (including VAT);

- A Seasonality Bonus of 4cpl (including VAT) paid on qualifying milk volumes supplied in January;

- A new Sustainability Action Payment of 0.5cpl (including VAT) to be paid monthly on all milk supplied in 2022 to recognise specific sustainability actions undertaken on farm. The three-year programme, amounting to €18m annually, is designed to assist suppliers as they continue to enhance the environmental and economic sustainability of their farms.

The Sustainability Action Payment also applies to Fixed Milk Price scheme volumes. The Share of GI Profit payment of 0.42cpl from Glanbia Co-op concluded in December.

The base price, Seasonality Bonus and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The Glanbia milk price for January creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 48.41cpl.

Glanbia Ireland Chairman John Murphy said: “Dairy market sentiment remains strong, with a combination of moderate milk flows from key regions and high input costs continuing to impact global supply. Inflation is continuing to impact many elements of the supply chain. The Board will continue to monitor developments.”

The 4cpl Seasonality Bonus is paid on all milk supplied in January, including non-contracted volumes from Liquid and Autumn Calving Scheme suppliers.

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