Glanbia Co-op has increased its milk price for June and will pay its milk suppliers 52.20c/l excluding VAT for supplies at 3.6% butterfat and 3.3% protein.

The price consists of the Glanbia base milk price for June of 46.99c/l, excluding VAT, an agri-input support payment of 5c/l on all milk supplied in June and a sustainability action payment of 0.47c/l excluding VAT, which will be paid monthly on all milk supplied in 2022 to recognise specific sustainability actions being undertaken on farm.

The base price, sustainability action payment and agri-input support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Stable markets

Glanbia Co-op chair John Murphy said: “European dairy commodity markets remain generally stable, with prices well above historic averages.

“Global milk flows remain flat, which is helping to sustain commodity pricing at record levels. The board will continue to monitor the situation on an ongoing basis,” he said.

Glanbia is reminding suppliers that the six-month pilot change to the timing of milk payments began with the June milk payment in July.

As part of this change, €96m was paid to milk suppliers around 10 days early under the co-op’s new twice-monthly payment model.

The remaining balance will be paid to milk suppliers on Monday 25 July, with milk statements due to be available online on that date. In total, the June milk value will exceed €200m.

Farm safety

Murphy took the opportunity to remind farmers to be conscious of farm safety.

“During Farm Safety Week, we should all take a moment to stop and think about the way we work on our farms. This is a busy time of year and it is important that we prioritise safety at all times.”