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Glanbia and Lakeland Dairies announce their milk price for February

Glanbia will pay its Member milk suppliers 34.42 cent per litre (cpl) (including VAT) for February creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for February of 31 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from the January base price. Farmer Members 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’. This payment, which will be adjusted each month to reflect the constituents of milk supplied, will be paid on all milk supplied by Co-op Members in 2020. An Early Calving Bonus (ECB) of 3cpl (including VAT) will be paid to creamery suppliers for February milk. The ECB replaces the previous Seasonality Scheme.

The Glanbia Ireland base price, Glanbia Co-op Share of GI Profit payment and Early Calving Bonus will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Glanbia Ireland liquid milk suppliers who deliver high quality milk year round receive a bonus of 7.4 cpl (including VAT) on their contracted liquid milk volumes for the six months from October to March.

Participants in the Autumn Calving Scheme (ACS) will be paid 8.5 cpl (including VAT) on their contracted November to February volumes. Liquid Milk contract holders and Autumn Calving Scheme participants are not eligible for the Early

Calving Bonus. Commenting, Glanbia Chairman Martin Keane said: “The global spread of Coronavirus is affecting dairy supply chains and ultimately trade. Our immediate priorities are to ensure the safety of our people and to assist our farmer suppliers and customers to work through the challenges. We urge everyone to follow the official advice from the HSE and other appropriate authorities.”

A number of weeks ago, Glanbia Ireland initiated its Business Continuity Planning (BCP) process to deal with the challenges arising from the current outbreak of Coronavirus (Covid-19). This includes contingency plans for safe deliveries to, and collections from, any farm impacted by the outbreak.

Meanwhile, Lakeland Dairies has announced a milk price for February supplies with the base price being held. In the Republic of Ireland, a base price of 31.81c/litre (including VAT and Lactose bonus) will be paid for milk supplied in February. In Northern Ireland, a base price of 25.25p/l will be paid for February – again the base price has been held.

Commenting on the price, the Co-op said: “Overall, the global dairy markets continue to be extremely volatile with consumption as well as transport and logistical networks severely affected as a result of the Coronavirus fallout. Returns for most products are under pressure too. Lakeland Dairies will continue to monitor the market situation closely over the coming weeks.”