Glanbia Price Must Reflect Market Returns
Following yesterday’s announcement from Lakeland Dairies that it will pay 36c/l (including bonus and VAT) for May supplies, IFA Dairy Chairman Stephen Arthur said Glanbia must return the same price and stop finding themselves left behind on milk price.
“The market is delivering 36c/l. We expect all milk processors to pay this price to dairy farmers,” he said.
Should Glanbia fail to lift the milk price at Monday’s Board meeting, there would be a differential of 1.39c/L between themselves and their closest neighbours.
For a 500,000L herd, this equates to a difference of approximately €900 (at base price) for May milk.
“This would be inexplicable, and a continuing embarrassment for Glanbia. Input costs are rising rapidly. Farmers need what the market is delivering,” he concluded.