Glanbia has announced its 2018 harvest price for grain, barley and wheat, offering its producers a total of €205 per tonne.
This price includes an extra €2 per tonne co-op bonus to all members, which was approved by the co-op board today.
It is also an increase in its price for the 2017 harvest, where it paid €147 per tonne paid to its members.
This is in addition to the 2018 Glanbia Co-op Grain Trading Bonus Scheme under which members can achieve a bonus of up to €10 per tonne based on their level of qualifying inputs purchased.
“We are pleased that harvest prices for 2018 are the highest in six years, and quality was generally very good across all crops,” said Glanbia chairman Martin Keane.
“However, the challenging weather resulted in winter crops generally yielding between 0.3 and 0.8 tonnes per acre below the five-year average. Spring yields were down by 1.0 to 1.5 tonnes per acre on the five-year average. Glanbia farmers managed to fill all of our premium contracts, which account for over 40% of the total intake.”
In October 2017, Glanbia announced that all the prices quoted this harvest will include a €3 per tonne allowance for delivery to a drying location. Higher allowances are paid for growers located greater than 15 kilometres from those relevant intakes.
“At harvest 2018, a significantly higher proportion of grain was sent directly to a drying location. This removes inefficiencies from the system and enhances the quality of our products, which should help us maximise market returns,” Keane added.
“Over 40% of our total grain intake now attracts a market premium above the base price. These premiums deliver significant benefits to our growers.”
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.