Glanbia has become the second processor to set its price for July 2021 milk supplies.
Its announcement follows Lakeland Dairies, who also confirmed, this afternoon (Thursday, August 12th), that it will hold its price.
Glanbia July 2021 milk price
In a statement, a spokesperson for Glanbia said:
“Glanbia will pay its member milk suppliers 35.6 cent per litre (cpl) (including VAT) for July creamery milk supplies at 3.6% butterfat and 3.3% protein.”
“Glanbia Ireland (GI) will pay a base milk price for July of 35.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is unchanged from the June 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.
“The Glanbia Ireland base price and Co-op Share of GI Profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.”
The Glanbia milk price for July creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 38.73 cpl.
Glanbia Ireland Chairman John Murphy said: “Markets are seasonally quiet, which is normal for this time of the year.”
“There is continued uncertainty around the pace of foodservice recovery in various markets, due to the evolving Covid situation. Price volatility remains a notable feature of the market.”
He confirmed the board will continue to monitor developments on a monthly basis.
Meanwhile, Lakeland Dairies will pay 36 cpl, including VAT, for milk at 3.6% fat and 3.3% protein to ROI supplies.
Meanwhile, in Northern Ireland, Lakeland Dairies has held its milk price for July at 29.2p/litre.
A spokesperson for the processor stated there remains a level of variability in forward buying patterns. This is on the back of the ongoing effects of the pandemic and the effectiveness of vaccination programmes worldwide.
More on milk prices.