Glanbia announce milk price for June 2020
Glanbia will pay its Member milk suppliers 30.10 cent per litre (cpl) (including VAT) for June creamery milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will pay a base milk price for June of 29.68 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1.48 cpl from the total GI payment for May supplies (which included a 0.20 cpl weather-related payment).
The GI base price has increased from 28 cpl in May to 29.68 cpl for June, an increase of 1.68 cpl.
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’.
The Glanbia Ireland base price and the Share of GI Profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers. The actual average price paid by Glanbia for June creamery milk, based on delivered constituents, will be 33.21 cpl.
Commenting, Glanbia Chairman Martin Keane said: “Dairy markets have strengthened in recent weeks, helped by the tentative re-opening of some food service outlets and Government interventions. However, given the weak economic data and high rates of coronavirus in many key importing regions, the short and medium term market direction remains uncertain.”
In conclusion, Martin Keane highlighted the importance of dairy farming to the Irish economy at this challenging time. “As the largest milk supply month of the year, our June milk payment will deliver over €120m to rural communities.”
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