Glanbia has today (Thursday, May 12) announced that it will pay its milk suppliers a total of 50.08c/L (including VAT) for April milk supplies at 3.6% butterfat and 3.3% protein.

The price consists of the following:

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 war in Ukraine is continuing to affect farm input costs and supply chains. Tight global milk supply has pushed European dairy product prices to record levels, with high input costs appearing to be curtailing any major global milk supply response," he added.

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.

The base price, Sustainability Action Payment and Agri-Input Support Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers, according to the co-op.

Earlier, Lakeland Dairies announced that it is increasing the price paid to farmers on existing fixed milk-price contracts.

In the Republic of Ireland, all fixed milk volumes will receive an 8c/L supplementary payment from April 2022–December 2022 inclusive.

In Northern Ireland the corresponding payment will be 7p/L on all milk in fixed-price schemes for the same months.

In a statement, the company said that the decision was made to “help alleviate the prolonged on-farm cost squeeze for farmers engaged in these contracts”.

It pointed to the severe inflationary pressures on feed and fertiliser which “continue to bite”.