Glanbia has announced an increased milk price for suppliers in August.

Suppliers in the Republic of Ireland will receive a base milk price of 29c/l excluding VAT for milk supplied last month at base milk solids. That equates to approximately €4.08c/kg milk solids. In effect, it's a 0.5c/litre lift in July milk price.

Commenting on the price, Glanbia chair Martin Keane said: “Dairy product prices across the EU have been reasonably stable in recent weeks, despite an overall weaker macro-econmomic outlook. We will continue to monitor closely various factors."

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