Glanbia will pay its member suppliers 26c/l including VAT for August milk. The price is inclusive of a 1.0c/l Glanbia Cooperative Society support payment to its members and is a cut of 0.5c/l on July.
The fourth Irish dairy processor to announce its milk price for August, Glanbia Ingredients Ireland (GII), has held the manufacturing milk price at 25 c/l including VAT. This is the same base price it paid in July, although members who signed a Milk Supply Agreement received a bonus of 1.5c/l, including VAT in that month, bringing to the overall price to 26.5c/l/
The additional support for co-op members was cut by 0.5c/l to 1c/l for August – creating a new price for members of 26c/l.
Suppliers to GII that are not currently members of Glanbia Co-operative Society will be entitled to all 2015 support payments on a retrospective basis, provided they avail of an opportunity to join the Society before 16 October of this year.
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The support payments so far this year are March (1cpl); April (2cpl); May (3cpl); June (1cpl), July (1.5cpl) and August (1cpl).
Glanbia chairman Henry Corbally welcomed the recent recovery in prices on the Global Dairy Trade (GDT), but cautioned that improvements were coming off a very low base.
The board of Lakeland Dairies was the first to announce its August milk price with a cut in its base milk price of 0.75c/litre. The farmgate price paid by Lakeland Dairies is now 26.25c/litre including VAT, down from 27c/litre in July.
Kerry Group held the price at 26c/litre, the same price it gave in July. Carbery also decided to hold its July price for August.
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Title: Glanbia cuts August milk price by 0.5c/l
Glanbia will pay its member suppliers 26c/l including VAT for August milk. The price is inclusive of a 1.0c/l Glanbia Cooperative Society support payment to its members and is a cut of 0.5c/l on July.
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The fourth Irish dairy processor to announce its milk price for August, Glanbia Ingredients Ireland (GII), has held the manufacturing milk price at 25 c/l including VAT. This is the same base price it paid in July, although members who signed a Milk Supply Agreement received a bonus of 1.5c/l, including VAT in that month, bringing to the overall price to 26.5c/l/
The additional support for co-op members was cut by 0.5c/l to 1c/l for August – creating a new price for members of 26c/l.
Suppliers to GII that are not currently members of Glanbia Co-operative Society will be entitled to all 2015 support payments on a retrospective basis, provided they avail of an opportunity to join the Society before 16 October of this year.
The support payments so far this year are March (1cpl); April (2cpl); May (3cpl); June (1cpl), July (1.5cpl) and August (1cpl).
Glanbia chairman Henry Corbally welcomed the recent recovery in prices on the Global Dairy Trade (GDT), but cautioned that improvements were coming off a very low base.
The board of Lakeland Dairies was the first to announce its August milk price with a cut in its base milk price of 0.75c/litre. The farmgate price paid by Lakeland Dairies is now 26.25c/litre including VAT, down from 27c/litre in July.
Kerry Group held the price at 26c/litre, the same price it gave in July. Carbery also decided to hold its July price for August.
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