Trading Bonus Scheme to continue in 2023

Tirlán confirms payment of €5.4m Trading Bonus to Members. 2023 Trading Bonus Scheme launched.

Tirlán Co-operative Society (formerly “Glanbia Co-op”) has confirmed the payment of €5.4 million to over 4,500 farmer shareholders as part of the 2022 Trading Bonus Scheme. A further €1.2 million will be paid to eligible Members in the coming months.

The Board of Tirlán has approved that Members will again have an opportunity to participate in a 2023 Trading Bonus scheme. A Trading Bonus of 0.25 cent per litre (cpl) will be paid on all milk from suppliers that spend 8cpl or more with Tirlán in 2023. For grain grower Members, a Trading Bonus of up to €10 per tonne of grain supplied is again available for the 2023 harvest.

Commenting, John Murphy, Chairman of Tirlán Co-operative Society, said:

“Tirlán Co-op continues to deliver strongly for its Members. The 2023 Trading Bonus Scheme is a continuation of the very successful Trading Bonus Scheme that has operated since 2018.

“The Trading Bonus rewards our Members for trading with their Co-op. As a 100% farmer-owned Co-op, it is more important than ever that we support our own business. I would again like to thank all Members for their continued support of the Tirlán business and all of its brands and subsidiaries during 2022 and we look forward to another successful year.

“Our focus is on paying the best possible milk and grain prices to our Members. The Board also believe that it is important to reward Members who trade with their own Co-op. By purchasing high quality inputs from our own Co-op, we make our business stronger for all of our Members.”

 

2023 Trading Bonus Scheme

The Trading Bonus Scheme rewards farmer Members of the Co-op for purchases made from Tirlán and its subsidiaries. For grain growers and beef and sheep farmers, the terms of the 2023 Trading Bonus Scheme are largely unchanged from the 2022 Scheme.

For milk suppliers, a Trading Bonus of 0.25cpl will be paid on all milk from Members that spend over 8 cpl on input purchases with Tirlán in 2023. For grain growers, a Trading Bonus of up to €10 per tonne of grain supplied is available for 2023.

As shown in Table 1, the Milk Supplier Trading Bonus is worth up to €1,375 plus VAT to an average supplier spending over 8 cpl with Tirlán this year. All qualifying 2023 purchases made from Tirlán are included in the calculation (similar to previous years, purchases made through Purchasing Groups count at 50% for 2023).

At the end of 2023, the total spend will be divided by the total litres of milk delivered to generate a cent per litre input spend for each Member. The applicable Trading Bonus will be paid in February 2024.

 

Table 1: 2023 Milk Supplier Trading Bonus*

*VAT flat rate addition will be paid on milk supplied by non-VAT registered farmers who have confirmed their non-VAT registered status in writing to Tirlán at the rate applicable at the time of payment.

 

Table 2: 2023 Grain Supplier Trading Bonus**

**VAT flat rate addition will be paid on grain supplied by non-VAT registered farmers who have confirmed their non-VAT registered status in writing to Tirlán at the rate applicable at the time of payment. The example above is based on the current rate of 5.0%.

 

Feed Bonus

Beef and sheep farmer customers of Tirlán that are Co-op Members will also qualify for a Feed Bonus on their tonnes purchased this year.

• For non-milk suppliers, the 2023 Feed Trading Bonus will be €10 per tonne of Beef, Dairy and Sheep Feed products purchased from Tirlán;
• For non-milk suppliers, the 2023 Feed Trading Bonus will be €3 per tonne for straights; 

 

Download the 2023 Trading Bonus Scheme brochure here:

 

Farmer Members can log into their www.tirlanfarmlife.com account to view their individual Trading Bonus Scheme details.

 

Published 14 March 2023