Constituents and Payment Structure
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Notify
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Move
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1 Oct 2011
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1 January 2012
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1 Sept 2012
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1 January 2013
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1 Sept 2013
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1 January 2014
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Producers will have the option to move to constituents.
They will notify Glanbia by 1st September and move from the 1st of the following January.
Should a producer move they cannot go back.
Option 1 Payment for those who choose not to move
Producers who feel they need time to transfer to a solids based system his Milk is can be paid on a Hybrid model, this will transfer a portion of his milk slowly over to a constituents System as outlined below. Their flat rate is based at 5.63cpl.
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Portion
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Payment top-up
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Year
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Period Solids
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Flat
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Solids
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Flat
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2011
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June-December
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0
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100%
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-
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See Fig. 2
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2012
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Q1 (Jan to March)
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30%
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70%
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7.67cpl*
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5.63
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Q2,3 (April to August)
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50%
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50%
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|
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Q4 (Sept to Dec)
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30%
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70%
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7.67cpl* (Oct- March)
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5.63
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2013
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Q1 (Jan to March)
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50%
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50%
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5.63
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Q2,3 (April to August)
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100%
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0
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-
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Q4 (Sept to Dec)
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50%
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50%
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7.67cpl* (Oct- March)
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5.63
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2014
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Q1 (Jan to March)
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75%
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25%
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5.63
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From here on
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100%
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0
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-
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If you do not notify your local advisor, you will be automatically on this system.
Option 2 Payment on Constituents
Should you choose this option you will be paid on your own farm's Butterfat and Protein for all your contract. However you will get an additional topup of 7.67cpl(flat) ontop of your individual price for October to March inclusive.
It is agreed that the differential annualised will be 46cpl over 6 months
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46cpl
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October
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November
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December
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January
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February
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March
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7.67cpl*
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7.67cpl*
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7.67cpl*
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7.67cpl*
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7.67cpl*
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7.67cpl*
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* rounded
Everyone may get paid in this manner post April 2014