Glanbia Ireland has announced details of a new Milk & Feed Loyalty Scheme (Glanbia Loyalty Scheme), including a five-year fixed milk price element and a €30 per tonne loyalty bonus on concentrate dairy feeds from GAIN Animal Nutrition products.
This voluntary Scheme will pay a Fixed Base Milk Price of 31 cent per litre (including VAT) at base constituents of 3.6% butterfat and 3.3% protein plus a Feed Adjustor valued at between 2 to 3 cent per litre (cpl) for those participating in the dairy feed element of the Glanbia Loyalty Scheme (the Feed Adjustor amount varies depending on the volume of milk committed to the scheme and the level of feed usage).
In addition to availing of the Fixed Base Milk Price (31 cpl inc VAT), participants in the new Scheme can also avail of an optional dairy feed component, with a €30 per tonne loyalty payment on concentrate dairy feeds from Glanbia Ireland’s GAIN Animal Nutrition range. Glanbia Ireland milk suppliers that avail of the feed option will have priority to the milk pool available in the loyalty scheme.
Glanbia Chairman, Henry Corbally said: “The Glanbia Loyalty Scheme for milk and dairy feed prices is another international first for Glanbia. I’m delighted that we are in a position to provide milk suppliers with a guaranteed milk price for a period of five years, extending well beyond what is currently offered in any other jurisdiction. I’m sure this is a scheme that will be welcomed by many farmers during a period of significant political and economic uncertainty.”
Sean Molloy, Director of Strategy and Supply Development with Glanbia Ireland, added: “As well as huge risk management benefits for farmers, the new Glanbia Loyalty Scheme offers customers unrivalled traceability. The establishment of this cohort of farmers allows Glanbia Ireland promote the ‘closed loop’ procurement concept in terms of product claims and marketing initiatives.
“A ‘closed loop’ offers customers an exceptionally high level of assurance around the traceability and high quality of our dairy products, with all milk produced from grass and feeds sourced from our own Glanbia Ireland feed mills. This offers unrivalled assurance on the quality and integrity of the products.”