Milk price 2022
Glanbia has followed Lakeland Dairies’ lead by committing to pay a price of over 50c/L for April 2022 milk supplies.
Earlier today (Thursday, May 12th, 2022), the processor announced that it will pay its milk suppliers a total of 50.08c/L (including V.A.T) for April milk supplies at 3.6% butterfat and 3.3% protein.
The price comprises the following:
- The Glanbia base milk price for April is 46.58 cpl (including VAT);
- The board has agreed to pay a 3c/L agri-input support payment on all milk farmers supplied in April. This is against a backdrop of record farm input costs;
- It will pay 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 Glanbia total price for April creamery milk, based on LTO constituents of 4.2% butterfat and 3.4% protein, is 54.34c/L (including VAT).
This includes the Sustainability Action Payment and Agri-Input Support Payment.
It says that it will adjust the base price, sustainability action payment and agri-input support payment to reflect the “actual” constituents of milk delivered by suppliers.
Tight global supply
Glanbia Co-op Chairman John Murphy said:
“We are at a crucial time of year for investment in farm inputs to ensure adequate fodder supplies for next winter and spring. The board has decided to make a 3c/L Agri-Input Support payment on all April milk supplies.”
“The Ukraine war continues to affect farm input costs and supply chains. Tight global milk supply has pushed European dairy product prices to record levels.”
“High input costs are appearing to be curtailing any major global milk supply response.”
“A watch out for the future is that high prices and cost of living challenges may impact on demand in some regions. The board will continue to monitor developments monthly,” Murphy concluded.
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