There was an error in the reported Glanbia price in the monthly milk league published last week. When calculating the price per kilo milk solids for Glanbia, the wrong value for protein was taken from the Glanbia milk statement.
The net effect was in the published monthly milk league last week, Glanbia was at €3.87/kg milk solids and it should have been €3.82 (0.05c/kg less). Thanks to the other milk processors for spotting the mistake.
This slightly lower price places Glanbia third from bottom, just ahead of Dairygold. This Glanbia price includes the new biodiversity payment (the unconditional 0.2 c/l) that Glanbia paid out on April milk supplies.
Table 1 below shows the corrected summary of April milk prices when you compare base prices on a euro per kg milk solids figure and the c/l figure.
We rank the monthly milk league on a euro per kilo milk solids figure and the protein and fat we use is 3.45% protein and 4.11% fat to reflect the quality of milk Irish farmers are supplying.
Centenary Thurles remains rooted to the bottom of the monthly milk league, paying €3.79/kg milk solids or 26.96c/l ex VAT.
The recently announced Glanbia biodiversity payment received mixed feedback from milk suppliers over the last few days. Some farmers in the east, frustrated with receiving lower milk prices, suggested the payment was Glanbia putting a spin on ‘biodiversity’ to take the emphasis off the fact it is paying a lower milk price.
More farmers were thankful of the payment, suggesting it would help go some way to pay for extra feed given the lower grass growth with the very dry weather. The net cost to Glanbia of paying out the 0.2c/l on April milk irrespective of whether you supply spring milk or liquid milk would be between €600,000 and €700,000.