Kerry Group and Kerry Co-op have reached an agreement on how much milk suppliers should be paid.
The agri-food multinational and the co-op, which represents 12 per cent of the company’s shareholders, have issued a joint statement on the matter.
Kerry Group will pay 0.85 cent per litre to its suppliers on all qualifying 2021 milk volumes.
The company says this is in satisfaction of its contractual commitment to pay the leading milk price on a like-for-like basis.
Kerry Group says it’ll also pay 0.85 cent per litre on all 2021 forward price scheme volumes.
It says it’s doing this in recognition of the challenging inflationary conditions at farm level.