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Glanbia has announced another fixed milk price scheme. This tranche, the 10th such scheme, will pay a base of 29.4c/l excluding VAT (31c/l including VAT) on all contracted milk in 2018.
Over 2,000 Glanbia suppliers are now participating in one of the fixed price schemes.. This represents 60% of suppliers, and accounts for 20% of the milk pool – over 400m litres.
The price is 1c/l higher than the three-year scheme running from 2017 to 2019, but lower than the 30c/l excluding VAT (31.75c/l including VAT) offered for the one-year scheme running through 2017. There are no adjustments built in for changes in milk price or input costs.
Glanbia’s Sean Molloy described the scheme as “a risk-management” option for suppliers.
New board members
The co-op board held its annual general meetingon Tuesday. Three new board members joined, having been elected to represent their regions
Eamon McEnteggart replaces Jim Gilsenan and Paddy White takes over from Pat Hogan, as previously reported. There are now two John Murphys on the co-op board, with a Dublin farmer of that name replacing Matt Merrick who retired following 12 years of service.
That may lead to a little confusion on Friday, when the 14 co-op board selects which 10 will represent them on the plc board for the next year.
It is understood the Wexford John Murphy may seek one of the two vice-chair positions on the day.
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