Glanbia Ireland Paid Out €1bn In 2018 For Milk Supplies
In 2018 Glanbia Ireland paid approximately €1 billion, including VAT, for milk directly to 4,500 farmer suppliers across rural Ireland.
Overall, a total of €14.8m paid out to Glanbia Co-op Members.
The group revealed the figure at the Glanbia Co-op AGM in Kilkenny yesterday (29 May), where CEO of Glanbia Ireland, Jim Bergin, highlighted the direct boost this delivered to the rural economy.
Over the course of the year, Glanbia Ireland made payments worth €168 million to suppliers in Co Kilkenny, €149 million in Co Waterford, €124 million in Co Tipperary and €122 million in Co Wexford.
“The 5.1% growth in milk supply in 2018 was worth over €47m extra in payments last year which has an impact on the economies of rural Ireland and our suppliers’ farms,” Begin said.
2.7 billion litres of milk supplies are delivered to Glanbia Ireland per year, with supplies reaching as much as 88 million per week in 2019.
Protecting Water Supplies
As its milk volumes increased, the firm has invested over €343 million in its processing capacity over the year.
At the meeting, the group highlighted the importance of ensuring that Ireland’s water quality is protected.
The group’s chairman, Martin Keane, said that 100% of milk now comes from dairy farms accredited to Bord Bia’s Sustainable Dairy Assurance Scheme.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.