Glanbia milk suppliers will receive the same base milk price in January as they got in December, with a base milk price of 29.1c/l excluding VAT at 3.3% protein and 3.6% fat. However, a 0.4 c/litre bonus paid in December will not be paid in January so farmgate price to farmers will in effect be down 0.4 c/litre for January.
On top of the base price are 0.4c/l GI profit share and a seasonality bonus of 4c/l, for January.
Seasonality bonus and GI profit share will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Glanbia Ireland chair John Murphy said: “While lockdowns are having a negative impact on food service, they are positive for retail demand.
"Milk supply growth is strong across all the main milk production regions, but rising feed costs may curb supply growth in the EU.”
Meanwhile, Glanbia Co-operative Society has confirmed that a total of €4.7m will be paid to milk supplier members this month as part of its 2020 trading bonus scheme.
The payment will be made to qualifying members with their January milk payment and is based on 2020 milk supply volumes.
While lockdowns are having a negative impact on food service, they are positive for retail demand
Glanbia has confirmed the continuation of the GI profit share distribution for 2021 and announced that members will again have an opportunity to participate in a 2021 trading bonus scheme.
Murphy continued: “Profit made from the milk processing business is returned to those whose milk generated it, while the trading bonus rewards our members for trading with the business that they majority own.”