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Glanbia has set its member suppliers a milk price of 27.51c/l, excluding VAT, with the base price unchanged at 26.56c/l, excluding VAT.
This is for manufacturing milk supplied at 3.6% butterfat and 3.3% protein.
The board of Glanbia Co-op has decided to make a support payment to members of 1c/l, excluding VAT, for September milk supplies, an increase from the 0.5c/l support payment made for August.
The Glanbia Ireland base price and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Weak global supply
Glanbia chair Martin Keane said: “Global milk supply growth for 2019 is weaker than forecast, which has improved the market supply-demand balance.
“However, trade issues continue to impact on dairy markets, with the proposed US tariffs on Irish butter and cheese of particular concern.
"Greater clarity on Brexit is also important for dairy markets. The board will continue to monitor developments on a monthly basis,” he said.
Glanbia is the second processor to set a price for September milk. On Friday, the board of Lakeland Dairies set a milk price for September at 28.49c/l, excluding VAT.
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