Glanbia will pay its member milk suppliers 35.6c/l excluding VAT (37.6c/l including VAT) for October creamery milk supplies at 3.6% butterfat and 3.3% protein.
The price includes the member share of the GI profit. This is up from 34.75c/l in the September monthly milk league.
Glanbia Ireland chair John Murphy said: “Dairy markets have strengthened further, driven by weaker global milk supply and buyers moving to secure product in the face of supply chain challenges.
“There is particularly strong demand for cheese, butter and skimmed milk powder. This comes against a backdrop of wider inflationary pressures. The board will continue to monitor developments.”
Regarding this week’s series of proposals announced by Glanbia Co-op, John Murphy said that the board looked forward to engaging with members over the coming weeks.
On Thursday, Lakeland increased its milk price for October by 0.5c/l.
It will pay a base milk price of 36c/l, excluding VAT (38c/l including VAT).