Glanbia will pay its member suppliers 30 cent per litre (cpl) including VAT for November manufacturing milk supplies.
This price is inclusive of a 1 cpl Glanbia Co-operative Society support payment to its members.
Glanbia Ingredients Ireland (GII) has increased its base price by 2 cpl to 29 cpl including VAT for manufacturing milk at 3.6% fat and 3.3% protein.
The Board of Glanbia Co-operative Society has decided to pay its members a support payment of 1.0 cpl (including VAT) for November manufacturing and liquid milk supplies.
Henry Corbally, Glanbia chairman, said that the board was pleased to be in a position to return a November price of 30 cent per litre to Members given the challenging markets earlier this year.
“Recent milk supply reductions in key production regions have led to a swift and very welcome recovery in dairy market prices,” he said.
“However, a number of uncertainties remain in the global environment. The board will continue to monitor markets on a monthly basis.”