The net manufacturing price paid by Glanbia Ingredients Ireland (GII) to farmers for January remains at 22.72c/litre excluding VAT at 3.6% fat and 3.3%.

Glanbia Co-op is also maintaining the bonus of 0.95c/l excluding VAT paid to members who have signed a milk supply agreement.

Glanbia said this was part of the €35.6m support package announced for members last month.

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Lakeland Dairies cut its January price by 0.5c/l last Friday and more co-ops are due to set prices in the coming days amid negative signals from global dairy markets.

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