Glanbia has announced that it will pay its Member milk suppliers 32 cent per litre (cpl) including VAT for December manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
This is unchanged from the group’s November price.
The payment is comprised of a 30 cpl base price, including VAT, with a 2 cpl support payment.
The group said that its base price and support payments will be adjusted to reflect the actual constituents of milk delivered by suppliers.
“The recent sale of Skim Milk Powder out of intervention is welcome as it has almost eliminated the stock overhang and improves market sentiment. However, Brexit and global trade tensions continue to create some uncertainty around market direction,” Glanbia chairman Martin Keane said.
Before Christmas, Glanbia introduced its new Milk Statement, which is a detailed explanation of the milk value supplied for the period.
The new statement is based on feedback from its current statement, and takes into account the full range of initiatives that Glanbia has launchers since 2011, including the Fixed Milk price Schemes, the Glanbia Advance Payment Scheme, Working Bands, Seasonality, Glanbia Loyalty Scheme, and the Trading Bonus Scheme.
Glanbia said that the new statement is the most important document in the communication relationship between itself and its milk suppliers.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.