Kerry Creameries to Pay Leading Milk Price in 2024
Source: dairynews.today
Kerry Creameries confirms a leading milk price payment of 0.88c/L (VAT included) for 2024, totaling over €10 million.
Kerry Creameries has announced it will pay an additional 0.88c/L, VAT inclusive, for milk solids supplied in 2024. This decision followed consultations with Kerry Co-op and excludes milk supplied under forward price schemes. The company confirmed that the total additional payment will reach €10.3 million.
This marks the first annual leading milk price payment since Kerry Co-op's €500 million acquisition of Kerry Group's dairy business, Kerry Dairy Ireland.
A €50 million fund was part of this deal, intended to resolve a long-standing milk price dispute, with payments of 5.4c/L owed to suppliers for 2015-2020. The 2024 leading milk price has been a source of contention among suppliers.
MDPO members, primarily Kerry Dairy Ireland suppliers, have urged for full honoring of the price, pointing to a claimed 1.45c/L top-up owed based on comparisons with competitors.
This marks the first annual leading milk price payment since Kerry Co-op's €500 million acquisition of Kerry Group's dairy business, Kerry Dairy Ireland.
A €50 million fund was part of this deal, intended to resolve a long-standing milk price dispute, with payments of 5.4c/L owed to suppliers for 2015-2020. The 2024 leading milk price has been a source of contention among suppliers.
MDPO members, primarily Kerry Dairy Ireland suppliers, have urged for full honoring of the price, pointing to a claimed 1.45c/L top-up owed based on comparisons with competitors.
