Glanbia has announced a range of bonus and incentive payments for last year and into 2018. Firstly, a top-up payment of 1.05c (excl VAT) has been confirmed for all milk from July-December 2017.

Bonus payments on milk, grain and feed for 2018 will see up to 0.75c/l for milk and up to €10/t for grain or feed being paid, with payments graded on a sliding scale depending on input purchase levels. (see ifj.ie/glanbiabonus).

At the first in a series of co-op meetings, there were calls for all future milk payments to be on made on milk solids (A+B-C), not volume.

Tuesday’s meetings in Kilkenny and Dungarvan also saw purchasing group members complain that they will lose out on the bonus payments, although a partial (50%) payment will be made for this year.

Fixed-price scheme

A new fixed-price milk scheme for 2018-2020 at 31c/l excl VAT was announced. Sean Molloy confirmed that farmers who applied for the five-year Milk and Feed Loyalty Scheme will be allocated over half of the milk volume they applied for.

Farmers who opted not to participate in the feed loyalty element of the scheme will receive a similar allocation, he said.

Glanbia CEO Siobhan Talbot also revealed that a co-op share trading scheme will take place this year, with €5 again being offered for shares. Existing producers with low shareholding will be prioritised. Glanbia’s grain growers will be offered a chance to share up, with a staged repayment option. A once-off co-op dividend of 27c/share will issue this year in addition to the standard 10c/share dividend.

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