This overall price – at 3.6% butterfat and 3.3% protein – is an increase of 2.5c/L on the June milk price, Glanbia says.
The price consists of a base price of 51.08c/L including VAT, an increase of 1.5c/L on the June price.
The co-op will also pay an agri-input support payment of 6c/L on all milk supplied in July, including volumes in fixed milk price schemes. This is an increase of 1c/L.
A sustainability action payment of 0.5c/L including VAT is being paid monthly on all milk supplied in 2022 to recognise specific sustainability actions being undertaken on-farm.
These three payments will be adjusted to reflect the actual constituents of milk delivered by suppliers, Glanbia said.
Converted to standard European constituents of 4.2% and 3.4% protein, the total Glanbia price, including VAT, is 62.43c/L.
Glanbia co-op chairperson John Murphy said: “The ongoing weakness in global milk flows is sustaining dairy product pricing at historical highs.
“European prices remain at a premium to global trade. The board will continue monitor the situation on an ongoing basis.”
The milk payment for July includes an allocation of funds from the milk and grain price provision announced by Glanbia on April 1.
As part of the co-ops new twice-monthly payment model, a payment for July milk was made to milk suppliers early in August and the remaining balance will be paid on Thursday, August 25, with milk statements due to be available online on that date.
Murphy advised milk suppliers of the necessity of declaring their sustainability actions on Glanbia Connect to ensure they continue to receive their sustainability action payment in 2023.
“The sustainability action payment declaration portal has gone live on Glanbia Connect. The payment is worth 0.5c/L (including VAT) to all suppliers. This year the full payment is being made in recognition of the current on-farm actions.
“Suppliers should log on to their Glanbia Connect account in the coming weeks and select their seven sustainability actions undertaken on-farm this year to ensure they continue to receive the valuable payment next year,” Murphy added.
