Glanbia has said it will pay its member suppliers 26.5 cent per litre (cpl) including VAT for July milk. This price is inclusive of 1.5 cpl Glanbia Co-Operative Society support payment to its members.
Reflecting ongoing weakness in global dairy markets, Glanbia Ingredients Ireland (GII) has reduced the manufacturing milk price for July by 1 cent per litre (cpl) to 25 cpl including VAT.
Conscious of the serious impact of the current weak market price on the profitability of farmer suppliers, the Board of Glanbia Co-operative Society has decided to pay members who have signed a Milk Supply Agreement a bonus of 1.5 cpl (including VAT) for July manufacturing and liquid milk supplies.
Glanbia Co-operative Society has made very significant support payments to members in the year to date: March (1cpl); April (2cpl); May (3cpl); June (1cpl) and July (1.5cpl).
Suppliers to GII that are not currently members of the Society will be entitled to all 2015 support payments on a retrospective basis, provided they avail of an opportunity to join the Society this year. The application process for eligible milk suppliers is commencing in the coming weeks.