Glanbia today announced two new Fixed Milk Price schemes. The schemes will allow farmers the option to protect a portion of their milk supply from market dips.
The first scheme is called ‘Phase 8 fixed milk price marging Scheme’ and will run for three years from 1 January 2017 to 21 December 2019.
The second scheme Phase 9 will last for one year and will have a fixed milk price also.
Phase 8 will pay 30.10c/l while Phase 9 will oay 31.75 c/l.
The price of milk supplied under both schemes will be adjusted for constituents in the usual way. Glanbia co-op members will also receive top-ups from the co-op for the milk supplied under the schemes, if available.
There is no individual limit on the volume a farmer can apply for under either of the schemes. While GII does not publish information on the supply covered by each fixed price scheme, it said on Thursday that it had collected 1.7bn litres since starting the schemes in 2011.
In other news Dairygold has increased its November milk price by 1.c/l bringing their price to 27.6 c/l