Glanbia will pay its milk suppliers a total of 50.08 cent per litre (cpl) (including VAT) for April milk supplies at 3.6% butterfat and 3.3% protein.
The price consists of the following:
· The Glanbia base milk price for April is 46.58 cpl (including VAT);
· Against a backdrop of record farm input costs, the Board has agreed to pay a 3 cpl Agri-Input Support Payment on all milk supplied in April;
· A Sustainability Action Payment of 0.5 cpl (including VAT) is being paid monthly on all milk supplied in 2022 to recognise specific sustainability actions being undertaken on farm.
Glanbia Co-op Chairman John Murphy said: “We are at a crucial time of year for investment in farm inputs to ensure adequate fodder supplies for next winter and spring. The Board has decided to make a 3 cpl Agri-Input Support payment on all April milk supplies.
“The war in Ukraine is continuing to affect farm input costs and supply chains. Tight global milk supply has pushed European dairy product prices to record levels, with high input costs appearing to be curtailing any major global milk supply response. A watch out for the future is that high prices and cost of living challenges may impact on demand in some regions. The Board will continue to monitor developments on a monthly basis.”
The Glanbia total price for April creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 54.34 cpl (including VAT). This includes the Sustainability Action Payment and Agri-Input Support Payment.
The base price, Sustainability Action Payment and Agri-Input Support Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.