Glanbia Co-op has said it will pay its milk suppliers a farmgate price of 49.62c/l excluding VAT at base solids for May milk supplies.

The May price is up 2c/l, as the support payment to all suppliers (including the fixed milk price contingent) is up from 3c/l to 5c/l.

The price consists of the following:

  • The Glanbia base milk price for May is 44.15c/l excluding VAT.

  • The board decided to increase the agri-input support payment to 5c/l.
  • A sustainability action payment of 0.5c/l (including VAT) is being paid monthly on all milk supplied in 2022.

    • Chair comment

    Glanbia Co-op chair John Murphy said: “Dairy markets continue to perform at a high level, with a balance between reduced global milk supply and some inflationary pressures impacting on consumer demand in certain markets.

    “In light of the ongoing high farm input costs, the board has decided to increase the agri-input support payment to 5c/l for this month. It is not currently envisaged that the agri-input support payment will increase beyond this level.

    “The agri-input support payment will be paid on all milk supplied in May and is expected to continue for the coming months. The board will continue to monitor the situation on a monthly basis.”