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Ireland 25.01.2024

Kerry Group Introduces Forward Price Scheme at 37c/L for Milk Suppliers

Source: The DairyNews
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Kerry Group has unveiled a new forward price scheme for milk suppliers, offering a price of 37c/L inclusive of VAT.
Kerry Group Introduces Forward Price Scheme at 37c/L for Milk Suppliers
The scheme applies to milk constituents of 3.6% butterfat and 3.3% protein, and it includes a feed and fuel price adjustor. The scheme is valid for the period from March to October 2024. The application for the forward price scheme opened at 3:00 p.m and will remain open for 24 hours. This announcement follows Kerry Group's previous forward price scheme offered at 38.5c/L for the same period.  Key Points:
  • Kerry Group's new forward price scheme for milk suppliers sets a price of 37c/L, inclusive of VAT, for constituents of 3.6% butterfat and 3.3% protein.
  • The scheme includes a feed and fuel price adjustor and is applicable for the period from March to October 2024.
  • The application for the forward price scheme opened at 3:00 p.m and will remain open for 24 hours.
  • The previous forward price scheme offered by Kerry Group for the same period was at 38.5c/L.
This move by Kerry Group aims to provide transparency and support to its milk suppliers amid market uncertainties, particularly regarding demand dynamics in the Chinese market.
Becky Smith
Becky Smith
Analyst (Livestock) AHDB
01.03.2024
China is an important buyer on the world dairy markets, with a strong influence on global demand that plays into price dynamics. Imports of dairy products to China continued to decline in 2023, driven by increased domestic production and weaker consumer demand.
Keith Woodford
Keith Woodford
principal consultant at Agri food Systems Ltd.
28.02.2024
Synlait is in big trouble with losses mounting up and no easy answers, says Keith Woodford. For much of the past 20 years, Synlait was an entrepreneurial player in the New Zealand dairy industry, with a strong focus on growth. For a long time, it seemed to be doing everything right.
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