Glanbia has set a milk price of 36.9c/l excluding VAT for November supplies of milk, an increase on the October price.

Farmer members will also receive a 0.42c/l (including VAT) payment from Glanbia Co-op on all milk supplied this month as their share of GI profit.

This share of GI profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Seasonality payments

Glanbia said that seasonality payments will be included in next month’s milk price payments, with an unconditional late supply bonus of 1.89c/l, excluding VAT, paid on all milk supplied during December.

The bonus was previously confined to creamery milk suppliers. However, it will now apply to all milk supplied including all volumes supplied by liquid and autumn calving scheme suppliers who are not already subject to premium payments.

Inflation

Glanbia Ireland chair John Murphy said global milk supply has fallen, with rising input costs and wider inflationary pressures having a strong impact.

“The market is continuing to benefit from customers moving to secure product in the face of supply chain challenges and weaker global milk production.

“The returns for dairy product categories have continued to firm. The board will continue to monitor developments on a monthly basis,” he said.

SGM

Ahead of the Glanbia Co-op Special General Meeting (SGM) taking place at 2pm this Friday, 17 December, Murphy said a high number of eligible shareholders had registered to vote in the online meeting.

He highlighted that there was technical support available on www.glanbiaconnect.com or through the dedicated IT support number 056-779 6099 from Wednesday 15 December.