Glanbia Co-op has announced an increase of 2.35c/l, excluding VAT, for July milk price, with the base price lifting 1.4c/l, excluding VAT, and the support payment lifting 0.95c/l, excluding VAT.
The support payment is available to all milk supplied, including milk in the fixed milk price schemes. It is now worth almost 6c/l. The July lift brings the farmgate price to 54.6c/l, excluding VAT, at base solids.
The base price, sustainability action payment and agri-input support payment will all be solids-corrected in milk cheques.
Glanbia Co-op chair John Murphy said: “The ongoing weakness in global milk flows is sustaining dairy product pricing at historical highs. European prices remain at a premium to global trade. The board will continue to monitor the situation on an ongoing basis.”
Twice-monthly milk payments
In a statement, a Glanbia spokesperson also said: “The six-month pilot change to the timing of milk payments is continuing.
"As part of the co-op’s new twice-monthly payment model, a payment for July milk was made to milk suppliers early in August and the remaining balance will be paid on Thursday 25 August, with milk statements due to be available online on that date.”
Sustainability action payment
Murphy advised milk suppliers on the importance of declaring their sustainability actions on Glanbia Connect to ensure they continue to receive their sustainability action payment in 2023.
“The sustainability action payment declaration portal has gone live on Glanbia Connect. The payment is worth 0.5c/l, including VAT, to all suppliers. This year, the full payment is being made in recognition of the current on-farm actions.
“Suppliers should log on to their Glanbia Connect account in the coming weeks and select their seven sustainability actions undertaken on-farm this year to ensure they continue to receive the valuable payment next year,” he said.