Glanbia has set its milk price for January 2022 supplies.
In a statement on Tuesday, February 15th, 2022, a spokesperson confirmed that the processor has increased its price to 44.58c/L (including VAT) for January 2022 creamery milk supplies at 3.6% butterfat and 3.3% protein.
The statement added that the overall Glanbia price of 44.58 c/L for Member milk suppliers, includes;
- A base milk price for January of 40.08 c/L (including VAT). This is an increase of 0.5 c/L from the December base price of 39.58 c/L (including VAT);
- A seasonality Bonus of 4 c/L (including VAT) paid on qualifying milk volumes supplied in January;
- A new Sustainability Action Payment of 0.5 c/L (including VAT), which the processor will pay monthly on all milk farmers supply in 2022 to recognise specific sustainability actions. The Sustainability Action Payment also applies to Fixed Milk Price scheme volumes. The ‘Share of GI Profit’ payment of 0.42c/L from Glanbia Co-op concluded in December.
The processor will adjust the base price, Seasonality Bonus and Sustainability Action Payment to reflect the actual constituents of milk suppliers delivered.
The spokesperson confirmed that the Glanbia milk price for January creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 48.41c/L.
Glanbia milk price January 2022
Glanbia Ireland chairman, John Murphy, said:
“Dairy market sentiment remains strong. A combination of moderate milk flows from key regions and high input costs continue to impact global supply.”
Murphy added that inflation continues to impact “many” elements of the supply chain.
He said the board would continue to monitor developments.
Lakeland Dairies sets milk price
Last week, we reported that Lakeland Dairies became the first processor to set its price for January 2022 milk supplies.
In a statement on Thursday, February 10th, 2022, the board of Lakeland Dairies confirmed the co-operative’s milk price.
The spokesperson said:
“In the Republic of Ireland, Lakeland Dairies has increased its milk price by 1 cent/litre to pay 41 cent/litre inclusive of lactose bonus and VAT, for milk at 3.6% fat and 3.3% protein.”
Meanwhile, in Northern Ireland, Lakeland Dairies has increased its milk price by 0.8 p/litre to 32.7p/litre.