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Up €20m is to be made available by Glanbia co-op to milk suppliers as part of an extended credit scheme as drought conditions continue.
The scheme will run from 16 July until 15 September, and qualifying members will be offered interest-free deferred payment terms for the purchase of dairy feed and fertiliser.
“We believe that making interest-free extended credit available to milk supplier members for qualifying feed and fertiliser purchases for the next two months is appropriate given the scale of the current challenges,” Glanbia chair, Martin Keane, said.
Glanbia Ireland has this week also increased its base milk price to 29.4c/l excluding VAT for manufacturing milk at 3.6% fat and 3.3% protein.
Co-op members will also receive a drought support payment of 1c/l.
Qualifying Glanbia suppliers can contact their local representative for more information and application to the scheme.
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