Glanbia Ireland has launched a new fixed milk price scheme with a base price of 29.41c/l excluding VAT at reference milk constituents of 3.6% butterfat and 3.3% protein.

The one-year scheme is voluntary and will run from January to December 2020.

The key elements of the also scheme include:

  • Any support payment made by Glanbia Co-op to members would be paid on top of the fixed milk price.
  • Qualifying farmers for the one-year scheme will be required to be customers (existing or future) of GI Agri.
  • As a customer of GI Agri, farmers will be required to commit to a minimum spend of 5c/l on farm inputs during 2020.

    • Commenting on the scheme, Seán Molloy, chief agribusiness growth officer, said there is strong interest amongst suppliers in fixed milk price schemes as they provide an opportunity to fix the price of a portion of milk supply to protect against market volatility.