Glanbia Co-op has become the latest co-op to set its June 2022 milk price.
The processor, has this evening (Monday, July 18th), announced a 3c/L increase, which brings its price to 55.08c/L for supplies at 3.6% butterfat and 3.3% protein.
Glanbia June 2022 milk price
The price comprises the following:
- Glanbia base milk price for June of 49.58c/L (including VAT),
- An Agri-Input Support Payment of 5c/L on all milk supplied in June;
- The co-op is paying a Sustainability Action Payment of 0.5c/L (including VAT) monthly on all milk supplied in 2022. This is to recognise specific sustainability actions farmers are undertaking.
The co-op will adjust the base price, Sustainability Action Payment and Agri-Input Support Payment to reflect the actual constituents of milk that suppliers have delivered.
In a statement, Glanbia Co-op chairman, John Murphy, said that European dairy commodity markets remain “generally stable”, with prices well above historic averages.
Global milk flows, he added, remain flat, which is helping to sustain commodity pricing at record levels.
The board will continue to monitor the situation on “an ongoing basis”.
The co-op began its six-month pilot change to the timing of milk payments with the June milk payment in July.
As part of this, it paid €96 million to milk suppliers around ten days early under its new twice-monthly payment model.
It will pay the remaining balance to milk suppliers on Monday, July 25th. Milk statements due to be available online on that date.
In total, it reports that the June milk value will exceed €200 million.
John Murphy took the opportunity to remind farmers to be conscious of farm safety.
“During Farm Safety Week, we should all take a moment to stop and think about the way we work on our farms.”
“This is a busy time of year. It is important that we prioritise safety at all times,” the spokesperson concluded.