Glanbia Ingredients Ireland (GII) has announced a 1c/litre cut to its September milk price. Glanbia co-op will continue to pay a 1c/l support to its members. GII’s base price is now 24c/l (VAT inc). Earlier in the week, both Kerry and Lakeland held their respective August prices for September. Other co-ops will set prices between now and the end of next week.
IFA Dairy Committee chairman Sean O’Leary has urged all other co-ops to hold milk price for September: “What matters most of all to farmers in these times of pressured incomes is what they get into their pocket for their milk.
“We know that different co-ops have developed different mechanisms to pay their suppliers. All co-ops need to maintain the full payout to farmers, not just the base milk price.”
O’Leary also said that with New Zealand production expected to contract by as much as 5%, the indications are that rises in the Global Dairy Trade auction would continue in the short term.
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