Glanbia has become the latest processor to announce its milk price for May 2021 supplies.
It confirmed that it will pay its member milk suppliers 35.6 cent per litre (cpl) (including VAT) for May creamery milk supplies at 3.6% butterfat and 3.3% protein.
In a statement, a spokesperson said:
“Glanbia Ireland (GI) will pay a base milk price for May of 35.18 cpl (including VAT) for creamery milk at 3.6% fat and 3.3% protein. This is an increase of 1 cpl from the April 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 May creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 38.73 cpl.”
Glanbia Ireland chairman, John Murphy, said:
“Dairy markets are in reasonable balance at present, despite the variable nature of the recovery in demand from the foodservice sector.”
He said the board will continue to monitor developments on a monthly basis.
Lakeland Dairies last week confirmed its milk price for May 2021 supplies.
In a statement, a spokesperson for Lakeland Dairies said:
“In the Republic of Ireland, Lakeland Dairies has increased its base milk price by 1.66 cpl to 36 cpl, including VAT, for milk at 3.6% fat and 3.3% protein.”
This 1.66 cpl increase in the base milk price replaces the unconditional bonus.
In Northern Ireland, it has also replaced its unconditional bonus with an increase of 1.2p/litre in its base milk price.
The milk processor said there is currently a “reasonable level of stability” in the markets for dairy products.
“European milk supplies have been restricted due to a prolonged period of colder weather to date. This is serving to maintain a level of balance in supply and demand.”
You can find more milk price updates here.