Glanbia, has today (Monday, April 12th, 2021) announced its milk price for March 2021 supplies.
The milk processor will pay its member suppliers 34.6 cent per litre (cpl) (including VAT) for March 2021 creamery milk supplies at 3.6% butterfat and 3.3% protein.
This is an increase of 1.5 cpl (including VAT) from the February base price.
Furthermore, 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’.
According to a co-op spokesperson, 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 March creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 37.65 cpl.
Glanbia milk price March 2021
Glanbia Ireland chairman John Murphy said: “Increased consumption of fresh dairy produce in China has been a key factor driving higher pricing this year.”
“In Europe, strong retail demand continues to offset weaker foodservice sales partially.”
“Market sentiment is now reasonably stable as we approach peak milk supply season in Europe and see strong milk supply growth in the US. Some markets, including butter, have been a little more volatile over the past month. Higher prices working their way through the supply chain may also impact on demand.”
“The board will continue to monitor developments on a monthly basis.” Murphy concluded.
Glanbia plc completes EUR50m Share Buyback Programme
In other news, Glanbia plc, the Global Nutrition Group, has confirmed that it has completed its share buyback programme announced on November 9th, 2020.
In a statement, a spokesperson said:
“Between November 9th, 2020 and April 9th, 2021, Glanbia deployed
€50 million, repurchasing 4,790,502 ordinary shares on Euronext Dublin at an average price of €10.4373, which represents a discount of 2% to the volume-weighted average price over the same period.”
“Following cancellation of repurchased shares, Glanbia will have 291,295,182 ordinary shares in issue.” the spokesperson concluded.