Most settlement payments have now been made by Kerry Dairy Ireland to bring the leading milk price (LMP) dispute to an end.
The leading milk price promise was a commitment made by Kerry Group to its milk suppliers.
Under this promise, Kerry Group assured its suppliers that it would pay a milk price equal to or better than the leading milk price paid by other major Irish processors for comparable quality milk.
The dispute arose because Kerry suppliers claimed the company had not honoured this commitment between 2015 and 2020, leading to a long-running arbitration process.
A €50 million fund was established as part of Kerry Co-op’s acquisition of 70% of Kerry Dairy Ireland, from Kerry Group, in December to settle the dispute.
Kerry Co-op Chair James Tangney said the majority of farmers have now received their payments of 5.4 cent per litre, including VAT, for milk supplied during the five-year period, up to a ceiling of 120% of their guaranteed volume:
