Both Glanbia Ireland and Dairygold have this week announced their final harvest prices which will be paid to suppliers. Due to a tough growing year, average yields are estimated to be back by between 0.3t/ac to 0.8t/ac for winter crops and 1.0t/ac to 1.5t/ac for spring crops.

As a result, cereal and bean prices announced by Glanbia Ireland and Dairygold Co-op have increased by close to 40% and are the highest in six years.

Glanbia Ireland

For Glanbia Ireland, the base price for green barley and wheat starts at €193/t which, as of October 2017, includes a €3/t allowance for delivery to a specified drying location. Higher allowances are paid for growers located greater than 15km from those specified intakes.

All Glanbia Ireland members qualify for a €2/t co-op bonus on baseline grain prices. In addition to this, co-op members can qualify for an additional bonus of up to €10/t, where purchases of qualifying inputs from Glanbia Ireland exceed €60/t of grain supplied, up from €40/t in 2017.

Included in Table 1 are prices for premium contracts which now account for 40% of Glanbia Ireland’s total intake. Prices are exclusive of VAT and are set at 20% moisture for cereals and beans and 9% for oilseed rape.

Dairygold

Meanwhile, Dairygold has set a 2018 green barley and wheat price of €205/t. The co-op also announced a price of €200/t for oats, €235/t for contracted malting barley, €240/t for beans and €360/t for oilseed rape.

Prices are inclusive of a premium based on minimum purchase terms, are based on 20% moisture for cereals and beans and 9% for oilseed rape and are exclusive of VAT.

Upward price revisions

Three weeks ago, Inishleigh Co-op in Co Donegal announced a final grain price of €185/t for green barley and wheat excluding VAT. The co-op has no member bonus or transport allowance structure in place. However, due to pressure from suppliers and the IFA, the co-op revised the green harvest prices up to €200/t for barley, €195/t for wheat and €190/t for oats.

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