'Retail demand strong' as Glanbia reveals latest price paid to farmers

Food giant Glanbia will pay its member milk suppliers 34.6 cent per litre (cpl) (including VAT) for April creamery milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) says will pay a base milk price for April of 34.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from the March base price.

The company says farmer will also receive a 0.42 cpl (including VAT) payment from Glanbia Co-op on all milk supplied this month as their ‘Share of GI Profit’.

The firm says Glanbia Ireland base price and Co-op “Share of GI Profit” payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

The Glanbia milk price for April creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 37.65 cpl.

Glanbia Ireland Chairman John Murphy said: “While there is volatility in the price returns for some products, dairy markets generally remain solid. Retail demand continues to be strong, while food service demand is starting to recover in some regions. The Board will continue to monitor developments on a monthly basis.”