Glanbia will pay its member milk suppliers 34.65c/l ex VAT at base milk solids (36.6c/l including VAT) for September milk.

This is an increase of 1 c/l on the August base milk price and includes the 0.42c/l co-op member bonus.

Glanbia Ireland chair John Murphy said: “Dairy markets have strengthened in recent weeks, mainly due to weaker milk supply from key dairy regions. Higher farm input costs and other factors are curbing milk supply growth.

“There are significant inflationary pressures at all parts of the supply chain, which we are monitoring closely.”

At the last board meeting Glanbia held August base price paid at €4.74/kg milk solids or 33.8c/l, while Dairygold, Arrabawn and Lakeland all increased base price for August.