Glanbia Ireland is under significant pressure to boost its milk price at its board meeting today substantially.
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The IFA 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.

It follows last week’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.

The IFA 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, it claimed 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,” Arthur said.

In making its announcement, Lakeland Dairies said that there is currently a reasonable level of stability in the markets for dairy products.

“European milk supplies have been restricted due to a prolonged period of colder weather to date and this is serving to maintain a level of balance in supply and demand. While global dairy prices remain prone to fluctuation, they are holding steady for now.

“Demand for food ingredients is recovering on a post-pandemic basis, but this is not yet consistently the case across all markets. In the foodservice category, it remains to be seen if there is latent demand from consumers to return in large numbers to the foodservice and quick-serve markets as countries worldwide continue a cautious reopening including ongoing vaccination programmes,” it said.

Shares of Saputo Inc. SAP, -0.63% dropped 2.76% to C$33.15 Monday, in what proved to be an all-around negative trading session for the Canadian market.

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